Paymentus (NYSE:PAY) Rating Increased to Outperform at Wolfe Research

Paymentus (NYSE:PAY - Get Free Report) was upgraded by Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Wedbush set a $40.00 price objective on shares of Paymentus and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Robert W. Baird upped their target price on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group upped their price target on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Paymentus Price Performance

Shares of Paymentus stock opened at $29.32 on Tuesday. Paymentus has a 1 year low of $17.70 and a 1 year high of $40.43. The company has a 50 day simple moving average of $34.44 and a two-hundred day simple moving average of $31.36. The firm has a market cap of $3.67 billion, a PE ratio of 75.19 and a beta of 1.56.

Insider Transactions at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $38.01, for a total transaction of $433,656.09. Following the transaction, the director owned 73,963 shares in the company, valued at approximately $2,811,333.63. This represents a 13.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 87.76% of the company's stock.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently made changes to their positions in PAY. Park Square Financial Group LLC bought a new position in shares of Paymentus in the 4th quarter worth approximately $32,000. AlphaQuest LLC increased its holdings in Paymentus by 152,600.0% in the 1st quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider's stock worth $40,000 after acquiring an additional 1,526 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Paymentus in the 1st quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Paymentus by 2,763.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock worth $54,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in Paymentus in the 4th quarter worth approximately $73,000. Institutional investors own 78.38% of the company's stock.

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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