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

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.50.

Several equities research analysts recently commented on PAY shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, 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 note on Thursday, December 4th.

Paymentus Trading Down 0.9%

PAY stock opened at $29.29 on Friday. The firm’s 50-day moving average is $32.91 and its two-hundred day moving average is $32.65. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 63.66 and a beta of 1.49. Paymentus has a 52 week low of $22.65 and a 52 week high of $40.43.

Hedge Funds Weigh In On Paymentus

Several hedge funds have recently made changes to their positions in PAY. Advisors Asset Management Inc. raised its holdings in shares of Paymentus by 11.7% in 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. Raymond James Financial Inc. increased its holdings in shares of Paymentus by 0.7% in the second quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider’s stock valued at $1,834,000 after buying an additional 413 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Paymentus by 1.6% during the 3rd quarter. GSA Capital Partners LLP now owns 40,554 shares of the business services provider’s stock valued at $1,241,000 after acquiring an additional 632 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Paymentus by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 683 shares during the last quarter. Finally, Palisades Investment Partners LLC boosted its stake in shares of Paymentus by 0.5% during the 3rd quarter. Palisades Investment Partners LLC now owns 195,998 shares of the business services provider’s stock worth $5,998,000 after acquiring an additional 962 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.