Paymentus (NYSE:PAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a report issued on Sunday morning.

Several other brokerages have also weighed in on PAY. JPMorgan Chase & Co. lifted their price objective on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.50.

Paymentus Stock Up 1.8%

PAY opened at $25.27 on Friday. The company has a fifty day moving average of $30.03 and a 200-day moving average of $32.34. Paymentus has a twelve month low of $22.65 and a twelve month high of $40.43. The stock has a market cap of $3.17 billion, a PE ratio of 54.93 and a beta of 1.49.

Institutional Investors Weigh In On Paymentus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Wasatch Advisors LP lifted its stake in shares of Paymentus by 210.1% in the third quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock worth $143,640,000 after buying an additional 3,180,156 shares in the last quarter. Invesco Ltd. increased its position in Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after acquiring an additional 2,032,819 shares during the last quarter. Capital International Investors increased its position in shares of Paymentus by 17.6% during the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock valued at $219,728,000 after purchasing an additional 1,072,387 shares during the last quarter. Vanguard Group Inc. increased its holdings in Paymentus by 33.0% during the third quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock valued at $111,341,000 after buying an additional 903,627 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Paymentus in the 3rd quarter worth $19,503,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Company Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.