Weekly Research Analysts’ Ratings Changes for Paymentus (PAY)

Paymentus (NYSE: PAY) recently received a number of ratings updates from brokerages and research firms:

• 11/15/2024 – Paymentus had its price target raised by analysts at The Goldman Sachs Group, Inc. from $23.50 to $33.00. They now have a “neutral” rating on the stock.
• 11/13/2024 – Paymentus had its price target raised by analysts at Robert W. Baird from $25.00 to $36.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Paymentus had its price target raised by analysts at Wells Fargo & Company from $21.00 to $27.00. They now have an “equal weight” rating on the stock.
• 11/11/2024 – Paymentus was downgraded by analysts at Canaccord Genuity Group Inc. from a “strong-buy” rating to a “hold” rating.
• 10/14/2024 – Paymentus had its price target raised by analysts at Robert W. Baird from $24.00 to $25.00. They now have an “outperform” rating on the stock.

Paymentus Trading Up 2.9 %

Shares of Paymentus stock traded up $1.03 during trading hours on Tuesday, reaching $36.25. The stock had a trading volume of 179,348 shares, compared to its average volume of 259,979. The stock’s 50 day moving average is $23.95 and its 200 day moving average is $21.43. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $37.00. The firm has a market capitalization of $4.51 billion, a PE ratio of 116.94 and a beta of 1.41.

Hedge Funds Weigh In On Paymentus

A number of hedge funds have recently bought and sold shares of PAY. FMR LLC increased its holdings in Paymentus by 32,191.6% in the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after acquiring an additional 227,273 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Paymentus in the third quarter valued at about $839,000. Quadrature Capital Ltd increased its stake in shares of Paymentus by 130.1% during the first quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock worth $1,575,000 after purchasing an additional 39,136 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 34,307 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Paymentus in the 3rd quarter valued at about $629,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.