Paymentus (NYSE:PAY) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a research note released on Saturday morning.

PAY has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Paymentus in a report on Wednesday, October 8th. Wolfe Research raised Paymentus from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Raymond James Financial set a $38.00 price objective on shares of Paymentus and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Paymentus presently has a consensus rating of “Hold” and an average target price of $37.00.

Paymentus Stock Up 3.6%

Shares of PAY traded up $1.29 on Friday, hitting $37.43. 888,364 shares of the stock traded hands, compared to its average volume of 844,288. The firm has a market capitalization of $4.69 billion, a P/E ratio of 81.37 and a beta of 1.50. The stock’s 50 day moving average is $32.52 and its two-hundred day moving average is $33.54. Paymentus has a 1 year low of $22.65 and a 1 year high of $40.43.

Hedge Funds Weigh In On Paymentus

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Paymentus in the 3rd quarter valued at $33,000. AlphaQuest LLC boosted its position in shares of Paymentus by 152,600.0% in the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock worth $40,000 after buying an additional 1,526 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Paymentus during the 1st quarter valued at about $47,000. Advisors Asset Management Inc. lifted its position in Paymentus by 23.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock worth $90,000 after acquiring an additional 665 shares in the last quarter. Finally, Cliffwater LLC acquired a new position in Paymentus during the 2nd quarter worth approximately $124,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.