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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $35.50.

A number of research analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. Wedbush decreased their target price on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. The Goldman Sachs Group reduced their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Finally, Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th.

Institutional Investors Weigh In On Paymentus

A number of institutional investors and hedge funds have recently bought and sold shares of PAY. Plato Investment Management Ltd bought a new position in shares of Paymentus in the third quarter worth about $33,000. Blue Trust Inc. raised its stake in Paymentus by 186.8% during the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,319 shares during the period. Los Angeles Capital Management LLC purchased a new position in Paymentus in the 4th quarter worth approximately $80,000. Cliffwater LLC purchased a new position in Paymentus in the 2nd quarter worth approximately $124,000. Finally, Advisors Asset Management Inc. boosted its stake in 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 during the period. 78.38% of the stock is owned by institutional investors.

Paymentus Stock Performance

NYSE PAY opened at $25.37 on Friday. The business’s fifty day moving average is $25.43 and its 200 day moving average is $29.80. Paymentus has a fifty-two week low of $22.02 and a fifty-two week high of $40.43. The company has a market capitalization of $3.19 billion, a PE ratio of 48.79 and a beta of 1.50.

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.