Paymentus (NYSE:PAY) Price Target Raised to $33.00 at The Goldman Sachs Group

Paymentus (NYSE:PAY) had its target price increased by The Goldman Sachs Group from $23.50 to $33.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

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

Paymentus Trading Up 2.9 %

PAY opened at $33.50 on Friday. The company’s 50 day moving average is $23.65 and its 200-day moving average is $21.33. Paymentus has a 1-year low of $14.77 and a 1-year high of $37.00. The company has a market cap of $4.17 billion, a P/E ratio of 108.06 and a beta of 1.41.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC raised its holdings in Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the last quarter. MCF Advisors LLC raised its holdings in Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Paymentus during the 3rd quarter worth approximately $43,000. Finally, Arcadia Investment Management Corp MI raised its holdings in Paymentus by 141.1% during the 2nd 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 own 12.55% of the company’s stock.

Paymentus Company Profile

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.