Goldman Sachs Upgrades Paymentus

Fintel reports that on August 8, 2023, Goldman Sachs upgraded their outlook for Paymentus Holdings Inc – (NYSE:PAY) from Sell to Neutral.

Analyst Price Forecast Suggests 6.22% Upside

As of August 2, 2023, the average one-year price target for Paymentus Holdings Inc – is 11.37. The forecasts range from a low of 9.09 to a high of $14.70. The average price target represents an increase of 6.22% from its latest reported closing price of 10.70.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Paymentus Holdings Inc – is 623MM, an increase of 17.78%. The projected annual non-GAAP EPS is 0.07.

What is the Fund Sentiment?

There are 112 funds or institutions reporting positions in Paymentus Holdings Inc -. This is a decrease of 14 owner(s) or 11.11% in the last quarter. Average portfolio weight of all funds dedicated to PAY is 0.07%, a decrease of 89.95%. Total shares owned by institutions decreased in the last three months by 0.69% to 22,971K shares. The put/call ratio of PAY is 0.14, indicating a bullish outlook.

What are Other Shareholders Doing?

Franklin Resources holds 3,345K shares representing 2.71% ownership of the company. In it’s prior filing, the firm reported owning 3,339K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in PAY by 76.28% over the last quarter.

Capital International Investors holds 3,224K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 3,157K shares, representing an increase of 2.10%. The firm increased its portfolio allocation in PAY by 8.28% over the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 3,224K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 3,157K shares, representing an increase of 2.10%. The firm increased its portfolio allocation in PAY by 5.55% over the last quarter.

Akkr Management Company holds 2,381K shares representing 1.93% ownership of the company. No change in the last quarter.

FSGRX – Franklin Small Cap Growth Fund holds 2,195K shares representing 1.78% ownership of the company. No change in the last quarter.

Paymentus Holdings Background Information
(This description is provided by the company.)

Paymentus Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, develops cloud-based bill payment technology and solutions. Paymentus Holdings serves customers worldwide.

This article originally appeared on Fintel