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Paymentus (NYSE:PAY) Raised to Buy at Wall Street Zen

Paymentus logo with Business Services background

Paymentus (NYSE:PAY - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities research analysts also recently issued reports on PAY. Wedbush set a $40.00 price target on shares of Paymentus and gave the stock an "outperform" rating in a report on Tuesday, May 6th. The Goldman Sachs Group upped their target price on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Robert W. Baird raised their price target on shares of Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Wells Fargo & Company boosted their price target on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Get Our Latest Stock Report on PAY

Paymentus Stock Performance

Paymentus stock traded down $0.51 during mid-day trading on Friday, reaching $30.40. The company's stock had a trading volume of 451,989 shares, compared to its average volume of 417,530. The firm's fifty day moving average price is $35.31 and its two-hundred day moving average price is $31.58. Paymentus has a 12-month low of $17.70 and a 12-month high of $40.43. The company has a market capitalization of $3.80 billion, a P/E ratio of 77.95 and a beta of 1.56.

Insiders Place Their Bets

In other Paymentus news, Director William Ingram sold 11,409 shares of Paymentus stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 87.76% of the stock is owned by corporate insiders.

Institutional Trading of Paymentus

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

About Paymentus

(Get Free Report)

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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