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

Paymentus (NYSE:PAY) had its price objective upped by investment analysts at The Goldman Sachs Group from $23.50 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 2.42% from the company’s previous close.

Several other equities research analysts have also commented on PAY. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird raised their price target on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Wells Fargo & Company boosted their price objective on shares of Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.80.

Paymentus Stock Down 1.0 %

NYSE:PAY opened at $32.22 on Friday. Paymentus has a 52 week low of $14.77 and a 52 week high of $37.00. The stock’s fifty day moving average is $23.39 and its two-hundred day moving average is $21.23. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 103.48 and a beta of 1.41.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Paymentus by 32,191.6% in the third 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 in the last quarter. Quadrature Capital Ltd increased its holdings in Paymentus by 130.1% in the 1st quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock valued at $1,575,000 after purchasing an additional 39,136 shares in the last quarter. GSA Capital Partners LLP raised its position in Paymentus by 38.2% in the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after purchasing an additional 34,307 shares during the period. Cerity Partners LLC acquired a new position in shares of Paymentus during the third quarter worth about $629,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Paymentus by 196.9% in 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 buying an additional 28,628 shares during the period. Institutional investors and hedge funds 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.