Robert W. Baird Issues Positive Forecast for Paymentus (NYSE:PAY) Stock Price

Paymentus (NYSE:PAY) had its price objective lifted by Robert W. Baird from $25.00 to $36.00 in a research report report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group upped their price target on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Seven investment 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 stock. According to data from MarketBeat, Paymentus currently has an average rating of “Hold” and a consensus price target of $26.90.

Paymentus Trading Up 0.7 %

NYSE PAY opened at $34.05 on Wednesday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 108.87 and a beta of 1.41. The company has a 50 day moving average of $23.16 and a 200-day moving average of $21.15. Paymentus has a 1-year low of $14.77 and a 1-year high of $37.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after purchasing an additional 227,273 shares during the period. Cerity Partners LLC bought a new stake in Paymentus during the 3rd quarter worth approximately $629,000. 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 buying an additional 1,027 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Paymentus by 196.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after buying an additional 28,628 shares during the period. Finally, Quest Partners LLC lifted its stake in Paymentus by 3,809.6% in the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after buying an additional 20,343 shares in the last quarter. 12.55% of the stock is owned by institutional investors and hedge funds.

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.