Paymentus (NYSE:PAY) Trading Up 4.9% – Still a Buy?

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price rose 4.9% during mid-day trading on Tuesday . The company traded as high as $29.27 and last traded at $29.37. Approximately 106,737 shares traded hands during trading, a decline of 68% from the average daily volume of 330,562 shares. The stock had previously closed at $28.00.

Wall Street Analysts Forecast Growth

PAY has been the topic of several research analyst reports. Robert W. Baird cut their price target on Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. JPMorgan Chase & Co. reduced their price target on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. Wells Fargo & Company increased their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group set a $28.00 price target on Paymentus and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of “Hold” and an average price target of $30.00.

Paymentus Stock Down 0.3 %

The firm’s fifty day moving average is $27.89 and its 200-day moving average is $29.44. The stock has a market capitalization of $3.63 billion, a PE ratio of 93.60 and a beta of 1.65.

Insider Activity

In related news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

Several large investors have recently bought and sold shares of PAY. Capital International Investors grew its stake in Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after acquiring an additional 888,914 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Paymentus by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock valued at $58,697,000 after purchasing an additional 273,027 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Paymentus by 23.8% during the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock worth $28,713,000 after purchasing an additional 169,237 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Paymentus during the 4th quarter worth approximately $24,568,000. Finally, Invesco Ltd. lifted its stake in Paymentus by 246.2% in the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock valued at $18,931,000 after buying an additional 412,095 shares in the last quarter. Institutional investors and hedge funds 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.