Paymentus (NYSE:PAY) Price Target Raised to $33.00

Paymentus (NYSE:PAY) had its price objective increased by The Goldman Sachs Group from $23.50 to $33.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on PAY. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Wells Fargo & Company upped their price target on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird lifted their price objective on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.80.

Paymentus Trading Up 5.1 %

Shares of PAY opened at $35.22 on Friday. The firm has a market capitalization of $4.38 billion, a PE ratio of 113.61 and a beta of 1.41. The stock’s 50 day moving average is $23.95 and its two-hundred day moving average is $21.43. Paymentus has a twelve month low of $14.77 and a twelve month high of $37.00.

Institutional Trading of Paymentus

A number of large investors have recently made changes to their positions in the stock. nVerses Capital LLC raised its position in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the last quarter. MCF Advisors LLC grew its stake in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after acquiring an additional 650 shares during the period. Advisors Asset Management Inc. raised its holdings in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Paymentus during the 3rd quarter worth $43,000. Finally, Arcadia Investment Management Corp MI boosted its holdings in shares of Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares during the last quarter. Institutional investors and hedge funds own 12.55% 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.