Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) PT at $35.33

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.3333.

PAY has been the topic of a number of research reports. The Goldman Sachs Group lowered their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Wedbush reduced their target price on Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, December 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in shares of Paymentus during the third quarter worth about $33,000. Blue Trust Inc. boosted its position in Paymentus by 186.8% during the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after acquiring an additional 1,319 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Paymentus in the 4th quarter worth approximately $80,000. Cliffwater LLC purchased a new stake in Paymentus in the 2nd quarter worth approximately $124,000. Finally, Advisors Asset Management Inc. raised its holdings in Paymentus by 11.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 403 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Stock Performance

PAY opened at $25.35 on Monday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 48.75 and a beta of 1.50. Paymentus has a one year low of $22.02 and a one year high of $40.43. The business’s fifty day moving average is $27.41 and its two-hundred day moving average is $31.44.

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.