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

Paymentus (NYSE:PAY) had its price objective hoisted by The Goldman Sachs Group from $23.50 to $33.00 in a research report report published 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 research reports. Robert W. Baird lifted their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Paymentus currently has a consensus rating of “Hold” and an average price target of $28.80.

Paymentus Stock Performance

Shares of NYSE:PAY traded up $0.95 during midday trading on Friday, reaching $33.50. The company’s stock had a trading volume of 538,689 shares, compared to its average volume of 257,553. The firm has a 50 day moving average price of $23.65 and a two-hundred day moving average price of $21.32. Paymentus has a fifty-two week low of $14.77 and a fifty-two week high of $37.00. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 108.03 and a beta of 1.41.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. nVerses Capital LLC increased its stake in Paymentus by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the last quarter. MCF Advisors LLC boosted its position in Paymentus by 80.1% in the second 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. increased its position in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Paymentus in the 3rd quarter worth about $43,000. Finally, Arcadia Investment Management Corp MI increased its holdings in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after buying an additional 1,381 shares during the last quarter. 12.55% of the stock is owned by institutional investors.

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.