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

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

A number of other equities research analysts have also commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price 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. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Paymentus Stock Performance

Shares of NYSE PAY opened at $24.85 on Friday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 54.02 and a beta of 1.49. Paymentus has a fifty-two week low of $22.65 and a fifty-two week high of $40.43. The firm’s 50-day simple moving average is $30.22 and its 200 day simple moving average is $32.36.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Paymentus by 26.8% during the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after buying an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Paymentus by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 683 shares during the period. Millennium Management LLC increased its stake in shares of Paymentus by 4.2% during the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after purchasing an additional 9,890 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after purchasing an additional 419,736 shares during the period. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Paymentus by 35.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock worth $187,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 78.38% of the company’s stock.

Paymentus Company Profile

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.