Paymentus (NYSE:PAY) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on PAY. The Goldman Sachs Group upped their price objective on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Wolfe Research lowered Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Yorkville Ives assumed coverage on Paymentus in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Robert W. Baird upped their price target on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Freedom Broker raised Paymentus to a “strong-buy” rating in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.86.

Paymentus Trading Up 0.3%

PAY opened at $33.49 on Friday. The stock has a market capitalization of $4.22 billion, a P/E ratio of 45.88 and a beta of 1.35. Paymentus has a 12 month low of $20.11 and a 12 month high of $45.31. The firm’s fifty day simple moving average is $33.17 and its 200 day simple moving average is $28.91.

Paymentus (NYSE:PAY) last released its earnings results on Monday, November 2nd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Paymentus had a return on equity of 16.14% and a net margin of 6.65%. The firm had revenue of $372.18 million during the quarter, compared to analysts’ expectations of $358.87 million. During the same quarter in the prior year, the company earned $0.20 EPS. The company’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts predict that Paymentus will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Paymentus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of Paymentus by 226.2% in the third quarter. Russell Investments Group Ltd. now owns 89,874 shares of the business services provider’s stock valued at $2,754,000 after acquiring an additional 62,326 shares during the last quarter. Fifth Third Bancorp boosted its position in Paymentus by 1.0% during the third quarter. Fifth Third Bancorp now owns 65,851 shares of the business services provider’s stock valued at $2,018,000 after purchasing an additional 676 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in Paymentus during the third quarter valued at approximately $252,000. Alps Advisors Inc. acquired a new position in Paymentus during the third quarter valued at approximately $480,000. Finally, CenterBook Partners LP bought a new position in Paymentus in the third quarter valued at approximately $402,000. 78.38% of the stock is owned by institutional investors.

Paymentus Company Profile

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.