Paymentus Holdings, Inc. (NYSE:PAY) Receives $30.00 Average Target Price from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $30.00.

A number of research firms have recently issued reports on PAY. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird raised their price objective on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. 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 report on Friday, November 15th. Wedbush began coverage on Paymentus in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Wells Fargo & Company lifted their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,136 shares of company stock valued at $1,883,831. 87.76% of the stock is currently owned by company insiders.

Institutional Trading of Paymentus

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Paymentus by 3.2% during the 4th 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 in the last quarter. Cetera Investment Advisers increased its stake in Paymentus by 7.1% during the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 883 shares in the last quarter. Swiss National Bank grew its stake in shares of Paymentus by 2.7% in the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock worth $1,222,000 after acquiring an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,027 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Paymentus in the 4th quarter worth $35,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Stock Down 6.0 %

PAY stock opened at $27.42 on Thursday. The business has a 50 day moving average price of $31.89 and a two-hundred day moving average price of $28.05. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 88.45 and a beta of 1.66. Paymentus has a twelve month low of $14.77 and a twelve month high of $38.94.

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.