Wall Street Zen Upgrades Paymentus (NYSE:PAY) to Buy

Paymentus (NYSE:PAY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

PAY has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price objective on Paymentus from $29.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $40.00 target price on shares of Paymentus and gave the stock an “outperform” rating in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on Paymentus from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Robert W. Baird lifted their price objective on Paymentus from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company raised their price target on Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Paymentus Stock Down 5.4%

Shares of NYSE:PAY opened at $32.60 on Friday. The stock has a market cap of $4.08 billion, a PE ratio of 105.16 and a beta of 1.65. Paymentus has a 12-month low of $16.94 and a 12-month high of $40.43. The business has a 50 day moving average of $34.17 and a 200-day moving average of $31.90.

Insider Transactions at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the transaction, the director now owns 73,963 shares of the company’s stock, valued at approximately $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 75.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Paymentus by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider’s stock worth $510,000 after buying an additional 484 shares during the last quarter. Advisors Asset Management Inc. increased its stake 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 valued at $90,000 after buying an additional 665 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Paymentus by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider’s stock worth $214,000 after buying an additional 823 shares during the period. Cetera Investment Advisers increased its position in Paymentus by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 883 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in Paymentus in the 4th quarter valued at approximately $32,000. 78.38% of the stock is owned by institutional investors.

Paymentus Company Profile

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.