Paymentus initiated with a Buy at Freedom Capital

Freedom Capital analyst Lemar Clarke initiated coverage of Paymentus (PAY) with a Buy rating and $40 price target The cloud-based bill payment technology and solutions company’s platform manages all aspects of customer engagement and payments related to billing across multiple channels, notes the analyst, who believes that non-cyclical and non-discretionary end markets, innovation-led growth, and an increasing mix shift to larger, enterprise billers position Paymentus to deliver consistently on its growth algorithm.