Robert W. Baird Increases Paymentus (NYSE:PAY) Price Target to $24.00

Paymentus (NYSE:PAY) had its price objective hoisted by Robert W. Baird from $23.00 to $24.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other brokerages have also commented on PAY. Canaccord Genuity Group raised Paymentus to a strong-buy rating in a research note on Monday, July 8th. Citigroup increased their target price on shares of Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. The Goldman Sachs Group upped 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. Baird R W raised Paymentus from a hold rating to a strong-buy rating in a report on Wednesday, July 10th. Finally, StockNews.com raised shares of Paymentus from a sell rating to a hold rating in a report on Saturday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $19.31.

Paymentus Trading Up 0.3 %

Paymentus stock traded up $0.06 on Friday, reaching $22.28. 135,762 shares of the stock were exchanged, compared to its average volume of 254,399. The stock has a market cap of $2.77 billion, a PE ratio of 96.61 and a beta of 1.47. The firm has a fifty day moving average price of $19.50 and a two-hundred day moving average price of $19.26. Paymentus has a twelve month low of $12.98 and a twelve month high of $25.21.

Paymentus (NYSE:PAY) last issued its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. The business had revenue of $197.42 million for the quarter, compared to analyst estimates of $180.57 million. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue was up 32.6% on a year-over-year basis. Equities analysts anticipate that Paymentus will post 0.29 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.85, for a total value of $105,107.60. Following the sale, the general counsel now directly owns 136,536 shares in the company, valued at $2,573,703.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Paymentus news, General Counsel Andrew A. Gerber sold 1,575 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $18.81, for a total transaction of $29,625.75. Following the transaction, the general counsel now owns 142,112 shares of the company’s stock, valued at approximately $2,673,126.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.85, for a total transaction of $105,107.60. Following the transaction, the general counsel now owns 136,536 shares in the company, valued at $2,573,703.60. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

Several institutional investors and hedge funds have recently bought and sold shares of the company. MCF Advisors LLC boosted its stake in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Paymentus during the 4th quarter valued at $45,000. Arcadia Investment Management Corp MI raised its position in Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Paymentus by 2,948.4% in the fourth 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 last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Paymentus during the first quarter valued at about $106,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

About Paymentus

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.