Paymentus (NYSE:PAY) Reaches New 1-Year High – Time to Buy?

Paymentus Holdings, Inc. (NYSE:PAY)’s share price hit a new 52-week high on Monday . The company traded as high as $39.28 and last traded at $39.28, with a volume of 1092 shares changing hands. The stock had previously closed at $37.81.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PAY shares. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group upped their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company raised their price target on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird boosted their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paymentus presently has an average rating of “Hold” and an average price target of $28.80.

Paymentus Stock Up 3.1 %

The company has a market capitalization of $4.86 billion, a PE ratio of 121.97 and a beta of 1.41. The business has a 50 day simple moving average of $26.78 and a 200 day simple moving average of $22.55.

Institutional Trading of Paymentus

Large investors have recently made changes to their positions in the business. nVerses Capital LLC grew its stake in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the period. MCF Advisors LLC increased its holdings in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after buying an additional 650 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Paymentus during the 3rd quarter worth about $43,000. Finally, Arcadia Investment Management Corp MI grew its position in shares of Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,381 shares during the period. 12.55% of the stock is owned by hedge funds and other institutional investors.

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.