Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $35.50.

A number of equities analysts have commented on PAY shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating and issued a $36.00 price target on shares of Paymentus in a research report on Friday, March 6th. Wedbush decreased their price target on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th.

Paymentus Trading Up 0.2%

Shares of NYSE PAY opened at $25.15 on Friday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 48.37 and a beta of 1.50. Paymentus has a twelve month low of $22.02 and a twelve month high of $40.43. The business has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $30.07.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in PAY. Royal Bank of Canada lifted its holdings in shares of Paymentus by 26.8% in the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after purchasing an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 buying an additional 683 shares during the period. Millennium Management LLC increased its position in Paymentus by 4.2% in the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after buying an additional 9,890 shares during the period. Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 419,736 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Paymentus by 70.2% in the second quarter. Geode Capital Management LLC now owns 396,348 shares of the business services provider’s stock valued at $12,984,000 after buying an additional 163,508 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.