Analysts Set Paymentus Holdings, Inc. (NYSE:PAY) PT at $35.50

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat reports. Four equities research 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 12-month price target among analysts that have issued ratings on the stock in the last year is $35.50.

PAY has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a report on Friday, March 6th. The Goldman Sachs Group cut their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Finally, Wedbush reduced their price target on Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th.

Paymentus Price Performance

NYSE:PAY opened at $24.56 on Friday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 47.23 and a beta of 1.50. Paymentus has a one year low of $22.02 and a one year high of $40.43. The company’s 50-day simple moving average is $25.58 and its 200 day simple moving average is $29.91.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently bought and sold shares of PAY. Wasatch Advisors LP raised its holdings in Paymentus by 82.2% in the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after buying an additional 3,859,056 shares during the last quarter. Invesco Ltd. increased its position 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. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Paymentus during the fourth quarter valued at approximately $60,452,000. Capital International Investors raised its holdings in 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 acquiring an additional 1,072,387 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Paymentus by 148.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after acquiring an additional 943,244 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

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.