Paymentus (NYSE:PAY) Upgraded 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 released on Saturday morning.

Several other research firms also recently weighed in on PAY. JPMorgan Chase & Co. lifted 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. 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. Wells Fargo & Company raised their price target 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 raised their price target 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, The Goldman Sachs Group raised their price target on shares of Paymentus from $28.00 to $34.00 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.80.

Paymentus Stock Performance

Shares of NYSE:PAY traded down $0.15 during trading hours on Friday, hitting $33.36. 594,426 shares of the company's stock traded hands, compared to its average volume of 392,260. Paymentus has a 52 week low of $16.94 and a 52 week high of $40.43. The company's fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $31.87. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 85.54 and a beta of 1.65.

Insider Activity at Paymentus

In other 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 value of $433,656.09. Following the transaction, the director now owns 73,963 shares of the company's stock, valued at $2,811,333.63. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 87.76% of the company's stock.

Hedge Funds Weigh In On Paymentus

Institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of Paymentus in the fourth quarter valued at approximately $32,000. TimesSquare Capital Management LLC bought a new position in shares of Paymentus in the fourth quarter valued at approximately $35,000. AlphaQuest LLC raised its position 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 valued at $40,000 after purchasing an additional 1,526 shares during the period. Summit Securities Group LLC bought a new position in Paymentus during the first quarter worth $47,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Paymentus by 2,763.9% during the first 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. Institutional investors own 78.38% of the company's stock.

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.