Paymentus Holdings, Inc. (NYSE:PAY) Receives $23.50 Average Price Target from Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $26.90.

A number of brokerages have recently commented on PAY. Wells Fargo & Company increased their target price on shares of Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target 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 shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Institutional Investors Weigh In On Paymentus

A number of large investors have recently added to or reduced their stakes in PAY. FMR LLC raised its holdings in Paymentus by 32,191.6% in the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock valued at $4,564,000 after acquiring an additional 227,273 shares during the last quarter. Quadrature Capital Ltd grew its holdings in Paymentus by 130.1% in the 1st quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock valued at $1,575,000 after buying an additional 39,136 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after acquiring an additional 34,307 shares during the period. Cerity Partners LLC acquired a new position in Paymentus during the third quarter worth approximately $629,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Paymentus by 196.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 28,628 shares during the last quarter. 12.55% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Down 3.7 %

Paymentus stock opened at $32.55 on Tuesday. The business’s 50-day moving average price is $23.39 and its 200 day moving average price is $21.23. Paymentus has a 52 week low of $14.77 and a 52 week high of $37.00. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 105.00 and a beta of 1.41.

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.