Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Recommendation of “Hold” from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has received an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $28.80.

PAY has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Robert W. Baird raised their price objective on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company upped their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th.

Paymentus Trading Down 1.9 %

NYSE:PAY opened at $32.67 on Wednesday. Paymentus has a twelve month low of $14.77 and a twelve month high of $38.94. The company has a market cap of $4.07 billion, a PE ratio of 105.39 and a beta of 1.63. The company’s 50 day moving average is $32.21 and its two-hundred day moving average is $24.96.

Insider Activity at Paymentus

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares in the company, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 87.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paymentus

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP raised its holdings in Paymentus by 38.2% in the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 34,307 shares during the period. Cerity Partners LLC purchased a new position in shares of Paymentus during the 3rd quarter valued at approximately $629,000. PDT Partners LLC grew its stake in Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after acquiring an additional 13,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Paymentus by 196.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after acquiring an additional 28,628 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in Paymentus during the third quarter worth $839,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

About Paymentus

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.