Paymentus (NYSE:PAY) Cut to Hold at Wall Street Zen

Paymentus (NYSE:PAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

PAY has been the topic of a number of other reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Paymentus presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Paymentus Trading Down 2.8%

Shares of NYSE PAY opened at $26.72 on Friday. Paymentus has a 1 year low of $22.65 and a 1 year high of $40.43. The firm’s 50-day moving average is $31.30 and its 200-day moving average is $32.49. The firm has a market capitalization of $3.35 billion, a PE ratio of 58.09 and a beta of 1.49.

Hedge Funds Weigh In On Paymentus

Institutional investors and hedge funds have recently made changes to their positions in the company. Plato Investment Management Ltd bought a new stake in shares of Paymentus in the 3rd quarter valued at $33,000. Blue Trust Inc. increased its holdings in shares of Paymentus by 186.8% in the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after acquiring an additional 1,319 shares in the last quarter. Cliffwater LLC bought a new stake in shares of Paymentus in the second quarter worth about $124,000. Advisors Asset Management Inc. raised its position in shares of Paymentus by 11.7% during the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock worth $126,000 after purchasing an additional 403 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Paymentus by 35.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.