Robert W. Baird Increases Paymentus (NYSE:PAY) Price Target to $36.00

Paymentus (NYSE:PAY) had its price target upped by research analysts at Robert W. Baird from $25.00 to $36.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 10.60% from the company’s current price.

A number of other equities analysts also recently weighed in on PAY. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. The Goldman Sachs Group increased their target price on Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.90.

Paymentus Stock Performance

Shares of NYSE PAY opened at $32.55 on Wednesday. The firm has a market cap of $4.05 billion, a P/E ratio of 105.00 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’s 50 day moving average price is $23.39 and its 200 day moving average price is $21.23.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PAY. nVerses Capital LLC grew its position in shares of Paymentus by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares in the last quarter. MCF Advisors LLC boosted 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 worth $28,000 after purchasing an additional 650 shares during the period. Advisors Asset Management Inc. increased its stake in Paymentus by 155.1% during the third 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 last quarter. Arcadia Investment Management Corp MI raised 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. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Paymentus during the first quarter worth $106,000. 12.55% of the stock is owned by institutional investors and hedge funds.

About Paymentus

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.