The Goldman Sachs Group Issues Positive Forecast for Paymentus (NYSE:PAY) Stock Price

by · The Markets Daily

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

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

Read Our Latest Research Report on PAY

Paymentus Trading Up 2.9 %

PAY stock traded up $0.95 during mid-day trading on Friday, hitting $33.50. The stock had a trading volume of 538,689 shares, compared to its average volume of 257,553. The firm has a fifty day simple moving average of $23.65 and a 200 day simple moving average of $21.32. The firm has a market capitalization of $4.17 billion, a P/E ratio of 108.03 and a beta of 1.41. Paymentus has a 52 week low of $14.77 and a 52 week high of $37.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Paymentus by 32,191.6% during 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 during the last quarter. Main Management ETF Advisors LLC acquired a new stake in Paymentus in the third quarter valued at $839,000. Quadrature Capital Ltd raised its position in Paymentus by 130.1% during the 1st 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 during the last quarter. GSA Capital Partners LLP lifted its holdings in 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 buying an additional 34,307 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Paymentus in the third quarter valued at about $629,000. Institutional investors own 12.55% of the company’s stock.

Paymentus Company Profile

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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.

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