Paymentus (NYSE:PAY) Upgraded to Buy at Wall Street Zen

Paymentus (NYSE:PAY) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other research firms also recently issued reports on PAY. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Paymentus Stock Performance

Shares of NYSE:PAY opened at $24.78 on Friday. Paymentus has a 52-week low of $22.65 and a 52-week high of $40.43. The company has a market capitalization of $3.11 billion, a PE ratio of 53.87 and a beta of 1.49. The company has a fifty day moving average of $30.41 and a 200-day moving average of $32.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lisanti Capital Growth LLC acquired a new stake in Paymentus during the 3rd quarter worth about $3,708,000. Advantage Alpha Capital Partners LP bought a new stake in shares of Paymentus during the 2nd quarter valued at about $2,553,000. Marshall Wace LLP boosted its position in shares of Paymentus by 42.0% during the 2nd quarter. Marshall Wace LLP now owns 308,594 shares of the business services provider’s stock valued at $10,106,000 after purchasing an additional 91,342 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in Paymentus in the third quarter worth approximately $4,461,000. Finally, Jump Financial LLC increased its holdings in Paymentus by 63.5% in the second quarter. Jump Financial LLC now owns 129,029 shares of the business services provider’s stock worth $4,226,000 after purchasing an additional 50,129 shares in the last quarter. Institutional investors and hedge funds 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.