Paymentus (NYSE:PAY) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Paymentus (NYSE:PAY) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Several other research firms also recently commented on PAY. Wells Fargo & Company upped their target price on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird decreased their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.83.

Paymentus Trading Up 2.6 %

Paymentus stock opened at $27.83 on Wednesday. Paymentus has a 12 month low of $16.94 and a 12 month high of $38.94. The stock’s 50 day moving average is $29.74 and its 200-day moving average is $28.69. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 89.77 and a beta of 1.68.

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value 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. The trade was a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after acquiring an additional 81,853 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Paymentus in the 3rd quarter valued at $629,000. PDT Partners LLC lifted its stake in shares of Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after acquiring an additional 13,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Paymentus by 196.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after acquiring an additional 28,628 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Paymentus by 1,569.3% in the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 4,755 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

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.