Paymentus (NYSE:PAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other equities research analysts have also recently issued reports on the company. Wedbush set a $40.00 price objective on Paymentus and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Wells Fargo & Company lifted their price objective on Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. The Goldman Sachs Group lifted their price objective on Paymentus from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Robert W. Baird lifted their price objective on Paymentus from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Paymentus Stock Up 2.5%

NYSE:PAY opened at $33.49 on Friday. Paymentus has a 52 week low of $16.94 and a 52 week high of $40.43. The stock has a market capitalization of $4.19 billion, a PE ratio of 108.04 and a beta of 1.65. The stock’s 50-day moving average price is $34.35 and its 200-day moving average price is $31.86.

Insider Transactions at Paymentus

In other news, Director William Ingram sold 11,409 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the transaction, the director now directly owns 73,963 shares in the company, valued at $2,811,333.63. The trade was a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 75.43% of the company’s stock.

Institutional Trading of Paymentus

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Paymentus by 40.1% during the 4th quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider’s stock valued at $622,000 after buying an additional 5,452 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Paymentus during the 4th quarter valued at approximately $215,000. Cetera Investment Advisers raised its position in shares of Paymentus by 7.1% during the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock valued at $434,000 after buying an additional 883 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Paymentus by 34.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,308 shares of the business services provider’s stock valued at $1,513,000 after buying an additional 11,924 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Paymentus by 83.9% during the 4th quarter. Bank of America Corp DE now owns 14,096 shares of the business services provider’s stock valued at $461,000 after buying an additional 6,429 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Company Profile

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.