Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has received an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.83.

PAY has been the subject of a number of recent research reports. Robert W. Baird cut their price target on Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. Wells Fargo & Company lifted their price objective on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Wednesday.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the business’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 owns 94,855 shares in the company, valued at $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. 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 Paymentus 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 directly owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. This trade represents 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 corporate insiders.

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently made changes to their positions in the stock. Capital International Investors grew its stake in shares of Paymentus by 25.6% during the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock worth $142,509,000 after purchasing an additional 888,914 shares during the period. Vanguard Group Inc. grew its stake in shares of Paymentus by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock worth $58,697,000 after purchasing an additional 273,027 shares during the period. JPMorgan Chase & Co. grew its stake in Paymentus by 23.8% in the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock valued at $28,713,000 after acquiring an additional 169,237 shares during the period. Driehaus Capital Management LLC acquired a new position in Paymentus in the fourth quarter valued at about $24,568,000. Finally, Invesco Ltd. grew its stake in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock valued at $18,931,000 after acquiring an additional 412,095 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Trading Down 0.2 %

Shares of Paymentus stock opened at $27.31 on Monday. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94. The stock has a 50-day moving average price of $29.59 and a 200 day moving average price of $28.72. The company has a market cap of $3.40 billion, a P/E ratio of 88.10 and a beta of 1.68.

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.