Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) Price Target at $30.00

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

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company increased their price objective on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Robert W. Baird increased their price objective on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th.

Insider Transactions at Paymentus

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

Hedge Funds Weigh In On Paymentus

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after buying an additional 1,027 shares in the last quarter. nVerses Capital LLC lifted its position in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after buying an additional 1,100 shares in the last quarter. RiverPark Advisors LLC lifted its position in shares of Paymentus by 8.8% during the 3rd quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider’s stock worth $311,000 after buying an additional 1,258 shares in the last quarter. R Squared Ltd bought a new position in shares of Paymentus during the 4th quarter worth approximately $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Paymentus during the 3rd quarter worth approximately $43,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

Shares of NYSE:PAY opened at $30.45 on Friday. The company has a fifty day moving average of $33.65 and a 200-day moving average of $26.69. The company has a market capitalization of $3.80 billion, a PE ratio of 98.23 and a beta of 1.67. Paymentus has a 52-week low of $14.77 and a 52-week high of $38.94.

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.