Paymentus Holdings, Inc. (NYSE:PAY) Given Average Rating of “Moderate Buy” by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research 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 1-year price target among analysts that have issued a report on the stock in the last year is $35.50.

PAY has been the topic of several recent research reports. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Wedbush dropped their target price on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. The Goldman Sachs Group reduced their price target on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th.

Hedge Funds Weigh In On Paymentus

Several hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC lifted its position in shares of Paymentus by 20.5% in the fourth quarter. Vident Advisory LLC now owns 135,602 shares of the business services provider’s stock valued at $4,284,000 after acquiring an additional 23,054 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Paymentus during the 4th quarter worth about $60,452,000. XTX Topco Ltd raised its stake in Paymentus by 417.7% in the 4th quarter. XTX Topco Ltd now owns 42,164 shares of the business services provider’s stock valued at $1,332,000 after purchasing an additional 34,019 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Paymentus in the 4th quarter valued at about $793,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Paymentus in the 4th quarter valued at about $1,874,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Price Performance

NYSE PAY opened at $25.32 on Friday. The business has a 50 day moving average price of $25.27 and a 200 day moving average price of $29.74. The company has a market capitalization of $3.18 billion, a P/E ratio of 48.68 and a beta of 1.44. Paymentus has a 1-year low of $22.02 and a 1-year high of $40.43.

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.