Paymentus (NYSE:PAY) Hits New 12-Month High – Should You Buy?

Paymentus Holdings, Inc. (NYSE:PAY) reached a new 52-week high during trading on Monday . The company traded as high as $39.28 and last traded at $39.28, with a volume of 1092 shares. The stock had previously closed at $37.81.

Wall Street Analyst Weigh In

PAY has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group raised their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company increased their target price on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Paymentus currently has a consensus rating of “Hold” and an average target price of $28.80.

Paymentus Trading Down 0.9 %

The firm has a market capitalization of $4.74 billion, a P/E ratio of 122.68 and a beta of 1.63. The firm has a 50 day moving average price of $27.11 and a 200-day moving average price of $22.69.

Institutional Trading of Paymentus

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in shares of Paymentus by 38.2% in the third 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. Versor Investments LP bought a new position in Paymentus in the 3rd quarter valued at $331,000. PDT Partners LLC increased its stake in Paymentus by 39.4% in the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after purchasing an additional 13,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after purchasing an additional 28,628 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Paymentus by 3,809.6% during the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 20,343 shares during the period. Institutional investors own 12.55% of the company’s stock.

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.