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

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.00.

A number of equities research analysts have commented on PAY shares. Robert W. Baird dropped their price objective on shares of Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. StockNews.com lowered Paymentus from a “hold” rating to a “sell” rating in a report on Friday, April 4th. 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. The Goldman Sachs Group set a $28.00 target price on Paymentus and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Finally, Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Paymentus in a research note on Wednesday, March 12th.

Paymentus Stock Performance

Shares of Paymentus stock opened at $29.02 on Friday. The business has a 50-day simple moving average of $27.83 and a 200-day simple moving average of $29.50. Paymentus has a one year low of $16.94 and a one year high of $38.94. The company has a market cap of $3.63 billion, a PE ratio of 93.60 and a beta of 1.65.

Insider Activity at Paymentus

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the sale, the general counsel now directly owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in shares of Paymentus during the fourth quarter worth $32,000. TimesSquare Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter worth $35,000. R Squared Ltd purchased a new stake in shares of Paymentus in the fourth quarter valued at about $43,000. Deutsche Bank AG acquired a new position in shares of Paymentus during the fourth quarter worth about $73,000. Finally, Barclays PLC increased its stake in shares of Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock worth $101,000 after acquiring an additional 4,755 shares during the period. 78.38% of the stock is currently 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.