Paymentus’ (PAY) “Outperform” Rating Reiterated at Wedbush

Paymentus (NYSE:PAY)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report issued on Wednesday,Benzinga reports. They presently have a $38.00 price target on the business services provider’s stock. Wedbush’s target price would indicate a potential upside of 29.72% from the company’s previous close.

Several other analysts have also weighed in on the company. The Goldman Sachs Group raised their price objective on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company boosted their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Robert W. Baird dropped their price target on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday. StockNews.com lowered Paymentus from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.83.

Paymentus Price Performance

NYSE PAY opened at $29.29 on Wednesday. The business has a fifty day moving average price of $30.18 and a two-hundred day moving average price of $28.49. The stock has a market capitalization of $3.65 billion, a PE ratio of 94.50 and a beta of 1.68. Paymentus has a fifty-two week low of $16.94 and a fifty-two week high of $38.94.

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus 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 directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. This represents a 3.28 % 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 Trading of Paymentus

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Paymentus by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider’s stock valued at $510,000 after purchasing an additional 484 shares during the period. Cetera Investment Advisers boosted its holdings in Paymentus by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock worth $434,000 after buying an additional 883 shares during the period. Park Square Financial Group LLC bought a new position in Paymentus in the 4th quarter worth approximately $32,000. Swiss National Bank raised its holdings in Paymentus by 2.7% during the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock valued at $1,222,000 after acquiring an additional 1,000 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares during the period. Institutional investors own 78.38% of the company’s stock.

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.