Paymentus Holdings, Inc. (NYSE:PAY) Receives $35.33 Consensus PT from Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $35.50.

A number of analysts have recently weighed in on PAY shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $36.00 price target on shares of Paymentus in a report on Friday. Wedbush reduced their price objective on Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. The Goldman Sachs Group dropped their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Finally, Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th.

Paymentus Stock Up 1.5%

Shares of NYSE PAY opened at $25.86 on Monday. Paymentus has a 52 week low of $22.02 and a 52 week high of $40.43. The business’s 50 day moving average price is $27.17 and its 200 day moving average price is $31.24. The firm has a market cap of $3.25 billion, a P/E ratio of 49.73 and a beta of 1.50.

Hedge Funds Weigh In On Paymentus

Several large investors have recently made changes to their positions in the stock. Plato Investment Management Ltd acquired a new position in Paymentus during the third quarter worth $33,000. Blue Trust Inc. increased its position in shares of Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,319 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter valued at $80,000. Cliffwater LLC purchased a new stake in shares of Paymentus during the 2nd quarter worth $124,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Paymentus by 11.7% during the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock worth $126,000 after purchasing an additional 403 shares in the last quarter. 78.38% of the stock is currently 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.