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

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a report issued on Sunday morning.

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

Paymentus Stock Up 1.7%

Shares of NYSE PAY opened at $24.78 on Friday. The firm has a fifty day simple moving average of $30.41 and a 200 day simple moving average of $32.39. Paymentus has a twelve month low of $22.65 and a twelve month 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.

Institutional Investors Weigh In On Paymentus

Several institutional investors have recently added to or reduced their stakes in PAY. Handelsbanken Fonder AB purchased a new position in shares of Paymentus in the fourth quarter worth about $306,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its stake in shares of Paymentus by 104.7% during the 4th quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 429,916 shares of the business services provider’s stock valued at $13,581,000 after buying an additional 219,892 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Paymentus by 12.3% in the 4th quarter. Independent Advisor Alliance now owns 22,311 shares of the business services provider’s stock worth $705,000 after buying an additional 2,449 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Paymentus by 23.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,042 shares of the business services provider’s stock worth $286,000 after buying an additional 1,734 shares during the period. Finally, LVZ Inc. grew its stake in Paymentus by 13.2% in the 4th quarter. LVZ Inc. now owns 13,047 shares of the business services provider’s stock valued at $412,000 after buying an additional 1,526 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other 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.