Paymentus (NYSE:PAY) Downgraded to Hold Rating by Wall Street Zen

Paymentus (NYSE:PAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

PAY has been the subject of a number of other reports. JPMorgan Chase & Co. increased their target price on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Paymentus has an average rating of “Moderate Buy” and an average price target of $37.50.

Paymentus Price Performance

Shares of Paymentus stock opened at $26.72 on Friday. Paymentus has a 52-week low of $22.65 and a 52-week high of $40.43. The firm has a market capitalization of $3.35 billion, a PE ratio of 58.09 and a beta of 1.49. The company’s fifty day moving average price is $31.30 and its two-hundred day moving average price is $32.49.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently added to or reduced their stakes in PAY. Wasatch Advisors LP lifted its position in shares of Paymentus by 210.1% during the third quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock worth $143,640,000 after purchasing an additional 3,180,156 shares in the last quarter. Invesco Ltd. lifted its holdings in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after buying an additional 2,032,819 shares in the last quarter. Capital International Investors lifted its holdings in Paymentus by 17.6% during the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after buying an additional 1,072,387 shares in the last quarter. Vanguard Group Inc. boosted its position in Paymentus by 33.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock valued at $111,341,000 after buying an additional 903,627 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Paymentus in the 3rd quarter valued at $19,503,000. Institutional investors own 78.38% of the company’s stock.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.