Paymentus Holdings, Inc. (NYSE:PAY) Given Average Rating of “Moderate Buy” by Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.00.

Several equities research analysts recently commented on the company. Raymond James Financial set a $38.00 target price on Paymentus and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday.

Hedge Funds Weigh In On Paymentus

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its stake in shares of Paymentus by 210.1% in the 3rd quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock valued at $143,640,000 after buying an additional 3,180,156 shares during the period. Invesco Ltd. increased its holdings in shares of Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after acquiring an additional 2,032,819 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Paymentus by 152.3% during the first quarter. Driehaus Capital Management LLC now owns 1,897,552 shares of the business services provider’s stock worth $49,526,000 after purchasing an additional 1,145,557 shares during the period. Capital International Investors lifted its holdings in shares of Paymentus by 17.6% in the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after purchasing an additional 1,072,387 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Paymentus by 33.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock worth $111,341,000 after purchasing an additional 903,627 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Stock Up 2.2%

PAY stock opened at $33.36 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 72.52 and a beta of 1.50. The company’s fifty day simple moving average is $32.50 and its 200 day simple moving average is $33.77. Paymentus has a 12-month low of $22.65 and a 12-month high of $40.43.

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.