Robert W. Baird Raises Paymentus (NYSE:PAY) Price Target to $23.00

Paymentus (NYSE:PAY) had its price objective upped by Robert W. Baird from $22.00 to $23.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

PAY has been the topic of a number of other research reports. The Goldman Sachs Group increased their price objective on shares of Paymentus from $20.00 to $22.50 and gave the stock a neutral rating in a research note on Monday, April 15th. Raymond James lowered shares of Paymentus from an outperform rating to a market perform rating in a report on Thursday, March 14th. TheStreet lowered shares of Paymentus from a c- rating to a d+ rating in a report on Thursday, February 15th. Wells Fargo & Company started coverage on shares of Paymentus in a report on Wednesday, January 17th. They issued an equal weight rating and a $17.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Paymentus from $17.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, March 6th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $19.06.

Paymentus Price Performance

Shares of PAY stock opened at $19.20 on Tuesday. The business has a fifty day moving average of $20.81 and a 200 day moving average of $18.01. Paymentus has a 1 year low of $7.94 and a 1 year high of $25.21. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 106.67 and a beta of 1.54.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $157.38 million. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the business posted $0.02 earnings per share. As a group, equities research analysts expect that Paymentus will post 0.35 earnings per share for the current year.

Institutional Trading of Paymentus

Hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC increased its holdings in shares of Paymentus by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock worth $4,699,000 after buying an additional 1,141 shares during the last quarter. Swiss National Bank boosted its position in shares of Paymentus by 3.9% during the 3rd quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock worth $622,000 after purchasing an additional 1,400 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Paymentus during the 4th quarter worth approximately $45,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Paymentus by 15.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,441 shares of the business services provider’s stock worth $579,000 after purchasing an additional 3,341 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Paymentus by 2,948.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,629 shares during the period. Institutional investors and hedge funds own 12.55% of the company’s stock.

Paymentus Company Profile

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.