Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Rating of “Moderate Buy” from Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.83.

PAY has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a research note on Wednesday, March 12th. JPMorgan Chase & Co. reduced their price target on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company boosted their price target on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. StockNews.com downgraded shares of Paymentus from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Finally, Robert W. Baird cut their target price on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th.

Insider Buying and Selling

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the transaction, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $32,000. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $35,000. R Squared Ltd acquired a new position in shares of Paymentus in the 4th quarter valued at $43,000. Advisors Asset Management Inc. boosted its holdings in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,027 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Stock Performance

Paymentus stock opened at $29.58 on Monday. The company’s 50 day simple moving average is $30.01 and its 200-day simple moving average is $28.63. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 95.42 and a beta of 1.68. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94.

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.