Paymentus Holdings, Inc. (NYSE:PAY – Get Free Report)’s stock price fell 6.4% during mid-day trading on Thursday . The company traded as low as $31.16 and last traded at $31.64. 242,673 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 253,803 shares. The stock had previously closed at $33.80.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. 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 report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Wells Fargo & Company boosted 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 upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.90.
Paymentus Stock Performance
Hedge Funds Weigh In On Paymentus
Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in shares of Paymentus by 38.2% in the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after buying an additional 34,307 shares during the period. Quadrature Capital Ltd grew its holdings in shares of 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 buying an additional 39,136 shares during the period. Vanguard Group Inc. boosted its stake in Paymentus by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider’s stock worth $31,596,000 after purchasing an additional 8,457 shares during the period. Comerica Bank boosted its stake in Paymentus by 4,713.1% in the 1st quarter. Comerica Bank now owns 20,552 shares of the business services provider’s stock worth $468,000 after purchasing an additional 20,125 shares during the period. Finally, Algert Global LLC grew its holdings in shares of Paymentus by 3.2% in the 2nd quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after acquiring an additional 4,216 shares in the last quarter. 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.
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