The Goldman Sachs Group Raises Paymentus (NYSE:PAY) Price Target to $22.50

Paymentus (NYSE:PAY) had its price target boosted by The Goldman Sachs Group from $20.00 to $22.50 in a research report report published on Monday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

PAY has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Paymentus from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. TheStreet lowered shares of Paymentus from a c- rating to a d+ rating in a research note on Thursday, February 15th. Wells Fargo & Company assumed coverage on shares of Paymentus in a research note on Wednesday, January 17th. They set an equal weight rating and a $17.00 target price for the company. Raymond James lowered shares of Paymentus from an outperform rating to a market perform rating in a research note on Thursday, March 14th. Finally, Robert W. Baird boosted their target price on shares of Paymentus from $20.00 to $22.00 and gave the company a neutral rating in a research note on Friday, April 12th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $17.81.

Paymentus Stock Performance

NYSE PAY opened at $19.08 on Monday. Paymentus has a one year low of $7.76 and a one year high of $25.21. The company has a 50-day simple moving average of $19.52 and a 200-day simple moving average of $17.52. The firm has a market capitalization of $2.36 billion, a PE ratio of 106.00 and a beta of 1.52.

Paymentus (NYSE:PAY) last posted its quarterly earnings results on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The business had revenue of $164.80 million during the quarter, compared to analyst estimates of $157.38 million. During the same period in the previous year, the business posted $0.02 EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. Equities analysts forecast that Paymentus will post 0.35 earnings per share for the current year.

Institutional Trading of Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in shares of Paymentus in the 1st quarter worth approximately $36,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Paymentus in the 4th quarter worth approximately $45,000. Barclays PLC bought a new stake in shares of Paymentus in the 2nd quarter worth approximately $32,000. Royal Bank of Canada raised its holdings in shares of Paymentus by 1,571.5% in the 3rd quarter. Royal Bank of Canada now owns 3,109 shares of the business services provider’s stock worth $30,000 after purchasing an additional 2,923 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Paymentus by 127.8% in the 1st quarter. FMR LLC now owns 3,289 shares of the business services provider’s stock worth $29,000 after purchasing an additional 1,845 shares in the last quarter. 12.55% of the stock is currently owned by institutional investors.

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.