Paymentus (NYSE:PAY) Given New $36.00 Price Target at Robert W. Baird

Paymentus (NYSE:PAY) had its price target raised by Robert W. Baird from $30.00 to $36.00 in a report published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group set a $28.00 price objective on shares of Paymentus and gave the company a “neutral” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. decreased 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, March 11th. Wells Fargo & Company boosted their price objective on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a research report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Paymentus Stock Up 2.7 %

PAY stock opened at $35.05 on Tuesday. The company has a 50-day simple moving average of $28.42 and a 200 day simple moving average of $30.41. The company has a market capitalization of $4.38 billion, a P/E ratio of 113.06 and a beta of 1.61. Paymentus has a fifty-two week low of $16.94 and a fifty-two week high of $38.94.

Insider Activity at Paymentus

In other news, 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 transaction of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 disclosure for this sale can be found here. 87.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Paymentus

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its holdings 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 purchasing an additional 4,755 shares during the period. JPMorgan Chase & Co. lifted its position in Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after buying an additional 81,853 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Paymentus during the 4th quarter valued at $963,000. R Squared Ltd purchased a new position in shares of Paymentus during the 4th quarter valued at $43,000. Finally, Entropy Technologies LP acquired a new position in shares of Paymentus in the fourth quarter worth $337,000. Hedge funds and other institutional investors 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.