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

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, 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 1 year target price among analysts that have issued ratings on the stock in the last year is $37.50.

Several research analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th.

Paymentus Stock Performance

Shares of PAY stock opened at $24.85 on Thursday. The stock’s 50-day moving average is $30.22 and its two-hundred day moving average is $32.36. Paymentus has a 1 year low of $22.65 and a 1 year high of $40.43. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 54.02 and a beta of 1.49.

Institutional Trading of Paymentus

Hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new stake in shares of Paymentus during the third quarter worth approximately $33,000. Blue Trust Inc. raised its position in Paymentus by 186.8% during the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after buying an additional 1,319 shares during the last quarter. Cliffwater LLC acquired a new stake in shares of Paymentus in the 2nd quarter worth $124,000. Advisors Asset Management Inc. lifted its stake in shares of Paymentus by 11.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock worth $126,000 after acquiring an additional 403 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Paymentus by 35.7% in the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 1,500 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

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.