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

Paymentus Holdings, Inc. (NYSE:PAY) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $30.00.

Several research firms have issued reports on PAY. Robert W. Baird raised their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wedbush assumed coverage on shares of Paymentus in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Wells Fargo & Company lifted their price objective on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th.

Paymentus Stock Performance

Paymentus stock opened at $32.57 on Thursday. Paymentus has a 52-week low of $14.77 and a 52-week high of $38.94. The firm has a 50 day moving average price of $32.15 and a two-hundred day moving average price of $27.91. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 105.08 and a beta of 1.66.

Insider Buying and Selling at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares of the company’s stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the transaction, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,136 shares of company stock worth $1,883,831. 87.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after acquiring an additional 34,307 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 during the last quarter. Cerity Partners LLC purchased a new position in shares of Paymentus in the 3rd quarter worth about $629,000. PDT Partners LLC boosted its holdings in shares of Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after buying an additional 13,621 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 buying an additional 28,628 shares during the last quarter. 78.38% of the stock is 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.