Paymentus (NYSE:PAY) Downgraded to “Sell” Rating by StockNews.com

Paymentus (NYSE:PAY) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company upped their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush started coverage on shares of Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.83.

Paymentus Stock Performance

Shares of NYSE PAY opened at $28.97 on Tuesday. The firm’s 50 day moving average price is $30.18 and its 200-day moving average price is $28.49. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94. The company has a market cap of $3.61 billion, a PE ratio of 93.45 and a beta of 1.68.

Insider Activity

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction 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 $14,908,459.65. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $98,178.60. Following the sale, the general counsel now directly owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

A number of hedge funds have recently added to or reduced their stakes in PAY. Park Square Financial Group LLC bought a new stake in shares of Paymentus in the 4th quarter valued at about $32,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paymentus during the 4th quarter valued at about $3,241,000. Castleark Management LLC acquired a new position in Paymentus during the 4th quarter valued at about $3,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Paymentus by 34.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,308 shares of the business services provider’s stock valued at $1,513,000 after buying an additional 11,924 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new stake in Paymentus in the fourth quarter worth about $291,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.