Paymentus (NYSE:PAY) Price Target Lowered to $36.00 at Robert W. Baird

Paymentus (NYSE:PAY) had its target price decreased by analysts at Robert W. Baird from $40.00 to $36.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 44.47% from the stock’s current price.

Several other equities research analysts have also recently issued reports on PAY. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their price objective on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Wedbush initiated coverage on shares of Paymentus in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Paymentus presently has a consensus rating of “Hold” and an average price target of $30.00.

Paymentus Stock Down 5.5 %

Shares of Paymentus stock opened at $24.92 on Tuesday. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94. The company has a market capitalization of $3.11 billion, a P/E ratio of 80.38 and a beta of 1.68. The company has a 50 day moving average of $30.45 and a 200 day moving average of $28.41.

Insider Activity

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now directly owns 94,855 shares in the company, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares of the company’s stock, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of Paymentus in the fourth quarter valued at about $32,000. Advisors Asset Management Inc. boosted its stake in shares of Paymentus by 155.1% in the third 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. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus in the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Paymentus during the third quarter worth $43,000. Finally, R Squared Ltd acquired a new stake in Paymentus in the fourth quarter valued at $43,000. 78.38% of the stock is owned by institutional investors and hedge funds.

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.