Paymentus Holdings, Inc. (NYSE:PAY) Receives $37.50 Consensus PT from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $37.50.

Several brokerages recently issued reports on PAY. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. upped their price objective on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th.

Paymentus Stock Down 0.9%

Paymentus stock opened at $29.77 on Friday. Paymentus has a 52-week low of $22.65 and a 52-week high of $40.43. The company has a market cap of $3.73 billion, a P/E ratio of 64.71 and a beta of 1.49. The business has a 50-day simple moving average of $33.17 and a two-hundred day simple moving average of $32.70.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAY. Royal Bank of Canada raised its stake in Paymentus by 26.8% during the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after acquiring an additional 38,731 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock worth $90,000 after purchasing an additional 665 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Paymentus by 4.4% in the first 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 in the last quarter. Millennium Management LLC raised its position in shares of Paymentus by 4.2% during the 1st 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 during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Paymentus by 275.8% during the 1st 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 period. 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.