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

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) has been given a consensus rating of "Hold" by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $36.80.

A number of research firms recently issued reports on PAY. The Goldman Sachs Group increased their price objective on Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $40.00 price target on Paymentus and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company boosted their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Robert W. Baird upped their target price on shares of Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen upgraded Paymentus from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th.

Insider Transactions at Paymentus

In related news, Director William Ingram sold 11,409 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $38.01, for a total value of $433,656.09. Following the transaction, the director owned 73,963 shares in the company, valued at $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 75.43% of the company's stock.

Hedge Funds Weigh In On Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in PAY. Park Square Financial Group LLC bought a new stake in Paymentus during the 4th quarter valued at $32,000. AlphaQuest LLC raised its stake 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 purchasing an additional 1,526 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Paymentus in the first quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Paymentus by 2,763.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock valued at $54,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Paymentus during the fourth quarter valued at approximately $73,000. Institutional investors own 78.38% of the company's stock.

Paymentus Stock Performance

Shares of Paymentus stock opened at $28.91 on Friday. The firm has a fifty day moving average of $34.44 and a two-hundred day moving average of $31.37. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 74.13 and a beta of 1.56. Paymentus has a 52 week low of $17.70 and a 52 week high of $40.43.

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.

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