Paymentus (NYSE:PAY) Shares Gap Up – Still a Buy?

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $24.45, but opened at $25.42. Paymentus shares last traded at $25.52, with a volume of 84,258 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on PAY. Raymond James Financial upgraded shares of Paymentus from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Friday. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Paymentus Stock Up 6.6%

The firm has a market cap of $3.27 billion, a PE ratio of 56.64 and a beta of 1.49. The company has a 50-day simple moving average of $28.34 and a two-hundred day simple moving average of $32.04.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently bought and sold shares of PAY. Plato Investment Management Ltd purchased a new position in shares of Paymentus during the 3rd quarter valued at $33,000. Blue Trust Inc. raised its stake in Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,319 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Paymentus during the fourth quarter valued at about $80,000. Cliffwater LLC purchased a new stake in Paymentus during the second quarter valued at about $124,000. Finally, Advisors Asset Management Inc. boosted its position in Paymentus by 11.7% during the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock worth $126,000 after purchasing an additional 403 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Company Profile

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.