Paymentus (NYSE:PAY) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Paymentus (NYSE:PAY) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Paymentus has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Paymentus Stock Performance

PAY stock opened at $26.72 on Friday. Paymentus has a one year low of $22.65 and a one year high of $40.43. The firm’s fifty day moving average is $31.30 and its 200 day moving average is $32.51. The firm has a market cap of $3.35 billion, a PE ratio of 58.09 and a beta of 1.49.

Institutional Investors Weigh In On Paymentus

Large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of Paymentus by 26.8% in the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after buying an additional 38,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 worth $425,000 after purchasing an additional 683 shares during the last quarter. Millennium Management LLC grew its position in shares of Paymentus by 4.2% in the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock valued at $6,365,000 after purchasing an additional 9,890 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after purchasing an additional 419,736 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Paymentus by 35.7% during the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock worth $187,000 after buying an additional 1,500 shares in the last quarter. 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.