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

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.50.

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th.

Paymentus Stock Down 0.7%

PAY stock traded down $0.21 on Friday, reaching $29.10. 376,263 shares of the company’s stock were exchanged, compared to its average volume of 729,969. The stock has a fifty day moving average of $32.74 and a 200-day moving average of $32.63. The firm has a market cap of $3.65 billion, a PE ratio of 63.26 and a beta of 1.49. Paymentus has a twelve month low of $22.65 and a twelve month high of $40.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors increased its holdings in Paymentus by 17.6% during the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock valued at $219,728,000 after acquiring an additional 1,072,387 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Paymentus by 210.1% in the third quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock valued at $143,640,000 after purchasing an additional 3,180,156 shares during the last quarter. Invesco Ltd. increased its stake in shares of Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after purchasing an additional 2,032,819 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Paymentus by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock worth $111,341,000 after purchasing an additional 903,627 shares during the last quarter. Finally, Capital World Investors lifted its stake in Paymentus by 14.6% in the 3rd quarter. Capital World Investors now owns 2,393,613 shares of the business services provider’s stock valued at $73,245,000 after buying an additional 304,399 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Paymentus

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.