Paymentus (NYSE:PAY) Raised to Buy at Wall Street Zen

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

Several other equities analysts also recently weighed in on PAY. Weiss Ratings reiterated a “hold (c)” rating on shares of Paymentus in a research note on Wednesday, October 8th. Wolfe Research raised shares of Paymentus from a “peer perform” rating to an “outperform” rating in a report on Tuesday, July 22nd. Finally, Raymond James Financial set a $38.00 price objective on shares of Paymentus and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.00.

Paymentus Stock Performance

Shares of PAY opened at $37.43 on Friday. The business has a 50-day moving average of $32.52 and a 200 day moving average of $33.56. Paymentus has a fifty-two week low of $22.65 and a fifty-two week high of $40.43. The firm has a market cap of $4.69 billion, a P/E ratio of 81.37 and a beta of 1.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Plato Investment Management Ltd bought a new position in shares of Paymentus in the third quarter worth $33,000. AlphaQuest LLC grew its position in Paymentus by 152,600.0% during the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock worth $40,000 after buying an additional 1,526 shares in the last quarter. Summit Securities Group LLC bought a new position in Paymentus in the 1st quarter worth about $47,000. Advisors Asset Management Inc. increased its stake in Paymentus by 23.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock worth $90,000 after acquiring an additional 665 shares during the last quarter. Finally, Cliffwater LLC purchased a new stake in shares of Paymentus in the 2nd quarter valued at about $124,000. 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.