Paymentus (NYSE:PAY) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Paymentus (NYSE:PAY) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

Paymentus Stock Up 1.7%

PAY opened at $27.18 on Friday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 59.08 and a beta of 1.49. The stock has a fifty day moving average of $31.18 and a 200-day moving average of $32.52. Paymentus has a 12-month low of $22.65 and a 12-month high of $40.43.

Institutional Investors Weigh In On Paymentus

Large investors have recently made changes to their positions in the company. Capital International Investors raised its position in Paymentus by 17.6% during the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock valued at $219,728,000 after acquiring an additional 1,072,387 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Paymentus by 210.1% during the 3rd quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock worth $143,640,000 after purchasing an additional 3,180,156 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Paymentus by 20.7% during the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock valued at $138,740,000 after purchasing an additional 753,281 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Paymentus by 115.8% in the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after purchasing an additional 2,032,819 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Paymentus by 14.6% in the third quarter. Capital World Investors now owns 2,393,613 shares of the business services provider’s stock worth $73,245,000 after purchasing an additional 304,399 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.