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

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY - Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

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

Paymentus Stock Down 5.4%

PAY stock traded down $1.87 during trading hours on Friday, hitting $32.60. The company's stock had a trading volume of 832,266 shares, compared to its average volume of 388,825. The company has a market capitalization of $4.08 billion, a PE ratio of 105.16 and a beta of 1.65. Paymentus has a 12 month low of $16.94 and a 12 month high of $40.43. The stock has a 50 day moving average price of $34.17 and a two-hundred day moving average price of $31.98.

Insider Buying and Selling at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of the 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 completion of the sale, the director now directly owns 73,963 shares of the company's stock, valued at $2,811,333.63. This represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 75.43% of the company's stock.

Institutional Trading of Paymentus

A number of hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC bought a new position in shares of Paymentus during the 4th quarter worth about $32,000. TimesSquare Capital Management LLC bought a new position in shares of Paymentus during the 4th quarter worth about $35,000. AlphaQuest LLC lifted its holdings 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 worth $40,000 after acquiring an additional 1,526 shares during the period. Summit Securities Group LLC bought a new position in shares of Paymentus during the 1st quarter worth about $47,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 worth $54,000 after acquiring an additional 1,990 shares during the period. 78.38% of the stock is owned by institutional investors.

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.