Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Rating of “Hold” from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.80.

PAY has been the subject of a number of analyst reports. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price objective on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday.

Hedge Funds Weigh In On Paymentus

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

Paymentus Trading Up 2.9 %

NYSE:PAY opened at $33.50 on Tuesday. The stock has a market capitalization of $4.17 billion, a PE ratio of 108.06 and a beta of 1.41. Paymentus has a 1-year low of $14.77 and a 1-year high of $37.00. The firm has a fifty day simple moving average of $23.65 and a 200 day simple moving average of $21.33.

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.