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

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.83.

A number of research analysts have issued reports on the company. Robert W. Baird decreased their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their price objective on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, 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.

Paymentus Trading Down 0.2 %

NYSE:PAY opened at $27.31 on Monday. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 88.10 and a beta of 1.68. The stock has a 50-day moving average price of $29.59 and a two-hundred day moving average price of $28.72.

Insider Buying and Selling

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

Institutional Investors Weigh In On Paymentus

A number of large investors have recently added to or reduced their stakes in PAY. Capital International Investors grew its position in Paymentus by 25.6% during the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock worth $142,509,000 after buying an additional 888,914 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter valued at $24,568,000. Invesco Ltd. boosted its holdings in shares of Paymentus by 246.2% in the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock valued at $18,931,000 after purchasing an additional 412,095 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Paymentus in the 4th quarter valued at $12,064,000. Finally, Adams Street Partners LLC acquired a new stake in shares of Paymentus in the 4th quarter valued at $8,953,000. Institutional investors and hedge funds own 78.38% 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.