Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) PT at $30.00

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $30.00.

PAY has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of Paymentus in a research note on Wednesday, March 12th. Robert W. Baird reduced their target price on shares of Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. The Goldman Sachs Group set a $28.00 price target on shares of Paymentus and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. StockNews.com lowered shares of Paymentus from a “hold” rating to a “sell” rating in a report on Friday, April 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th.

Insider Activity at Paymentus

In other 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 completion of the sale, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. 87.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Paymentus by 32,191.6% during the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after purchasing an additional 227,273 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Paymentus by 1,305.6% in the third quarter. Point72 Asset Management L.P. now owns 9,600 shares of the business services provider’s stock worth $192,000 after acquiring an additional 8,917 shares in the last quarter. State Street Corp grew its stake in Paymentus by 2.6% in the third quarter. State Street Corp now owns 300,414 shares of the business services provider’s stock valued at $6,014,000 after acquiring an additional 7,525 shares during the period. XTX Topco Ltd grew its stake in Paymentus by 17.2% in the third quarter. XTX Topco Ltd now owns 20,905 shares of the business services provider’s stock valued at $419,000 after acquiring an additional 3,064 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Paymentus by 96.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 36,538 shares of the business services provider’s stock valued at $731,000 after acquiring an additional 17,969 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Paymentus Stock Up 5.0 %

NYSE PAY opened at $27.79 on Friday. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 89.65 and a beta of 1.65. Paymentus has a twelve month low of $16.94 and a twelve month high of $38.94. The business’s fifty day moving average is $28.08 and its 200 day moving average is $29.38.

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.