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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $35.3333.

PAY has been the subject of several recent analyst reports. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Raymond James Financial upgraded shares of Paymentus from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Friday, February 20th. Wedbush cut their price target on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. The Goldman Sachs Group reduced their price target on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th.

Paymentus Price Performance

Shares of NYSE:PAY opened at $24.49 on Monday. The business’s 50 day simple moving average is $27.77 and its 200 day simple moving average is $31.66. Paymentus has a 1 year low of $22.02 and a 1 year high of $40.43. The company has a market capitalization of $3.07 billion, a P/E ratio of 47.10 and a beta of 1.50.

Hedge Funds Weigh In On Paymentus

Institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd bought a new position in Paymentus in the third quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in shares of Paymentus by 186.8% in the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after acquiring an additional 1,319 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter valued at approximately $80,000. Cliffwater LLC bought a new stake in shares of Paymentus during the 2nd quarter valued at approximately $124,000. Finally, Advisors Asset Management Inc. increased its position in Paymentus by 11.7% during the 2nd 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 in the last quarter. Institutional investors and hedge funds 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.