Integrated payment processing solutions provider Repay Holdings Corp. (RPAY) revealed that it has signed a group purchasing agreement with healthcare improvement company Premier for advanced accounts payable (AP) solutions.
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Repay’s integrated payment technology platform makes electronic payments easier for merchants. Premier offers supply chain solutions, collaboratives, integrated data and analytics, consulting, and other services.
Repay has signed the agreement via its subsidiary and healthcare AP virtual card disbursement services provider, CPS Payment Services (CPS). (See Repay stock chart on TipRanks)
Under the agreement, CPS will provide advanced automation capabilities for AP disbursements to Premier members, thereby realizing savings through rebates and streamlining internal workflows at hospitals and healthcare providers.
Senior Vice-President (B2B) at Repay Darin Horrocks said, “We are honored to have been awarded this agreement with Premier and look forward to helping healthcare providers optimize supplier payments, create operational efficiencies and improve financial performance through powerful AP automation.”
BTIG analyst Mark Palmer recently maintained a Buy rating on the stock with a price target of $31 (27.2% upside potential). The analyst expects the company to report a loss per share of $0.13 in the second quarter of 2021.
Overall, the stock has a Strong Buy consensus rating based on 6 Buys. The average Repay price target of $27.67 implies 13.5% upside potential from current levels. The company’s shares have lost 10.4% over the past six months.
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