Paymentus (NYSE:PAY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Paymentus Holdings, Inc. (NYSE:PAY) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.69 and traded as high as $33.65. Paymentus shares last traded at $33.01, with a volume of 467,587 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PAY. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Robert W. Baird boosted their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Paymentus Stock Down 1.1 %

The stock has a 50-day simple moving average of $31.89 and a two-hundred day simple moving average of $24.69. The firm has a market cap of $4.11 billion, a PE ratio of 106.48 and a beta of 1.63.

Insiders Place Their Bets

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the sale, the general counsel now directly owns 97,925 shares of the company’s stock, valued at $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 87.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAY. MCF Advisors LLC boosted its holdings in Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares during the period. Advisors Asset Management Inc. lifted its position in 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 purchasing an additional 1,027 shares during the last quarter. nVerses Capital LLC boosted its stake in shares of Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,100 shares during the period. RiverPark Advisors LLC grew its holdings in shares of Paymentus by 8.8% in the third quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider’s stock worth $311,000 after purchasing an additional 1,258 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in shares of Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after buying an additional 1,381 shares during the period. Hedge funds and other 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.