Robert W. Baird Increases Paymentus (NYSE:PAY) Price Target to $36.00

Paymentus (NYSE:PAY) had its price target raised by Robert W. Baird from $25.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on PAY. JPMorgan Chase & Co. boosted their price objective on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. The Goldman Sachs Group raised their price target on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Paymentus has a consensus rating of “Hold” and a consensus price target of $28.80.

Paymentus Price Performance

Shares of NYSE PAY opened at $33.50 on Wednesday. Paymentus has a 1 year low of $14.77 and a 1 year high of $37.00. The firm has a 50-day simple moving average of $23.65 and a two-hundred day simple moving average of $21.32. The company has a market cap of $4.17 billion, a P/E ratio of 108.03 and a beta of 1.41.

Hedge Funds Weigh In On Paymentus

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC raised its stake in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after buying an additional 1,100 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Paymentus in the 3rd quarter worth $43,000. Finally, Arcadia Investment Management Corp MI lifted its stake in shares of Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares during the last quarter. 12.55% of the stock is currently 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.