Paymentus (NYSE:PAY) Hits New 52-Week High – Still a Buy?

Shares of Paymentus Holdings, Inc. (NYSE:PAY) hit a new 52-week high during trading on Monday . The company traded as high as $37.50 and last traded at $37.50, with a volume of 1066 shares trading hands. The stock had previously closed at $36.44.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAY. Robert W. Baird boosted their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price target on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, 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. Seven equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Paymentus Trading Up 0.7 %

The firm has a market capitalization of $4.75 billion, a P/E ratio of 122.87 and a beta of 1.41. The company has a 50 day moving average of $25.49 and a 200-day moving average of $22.01.

Institutional Trading of Paymentus

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

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.