Paymentus (NYSE:PAY) Price Target Lowered to $30.00 at Robert W. Baird

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

Several other research firms have also weighed in on PAY. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Wells Fargo & Company raised their price target on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.83.

Paymentus Stock Performance

Shares of NYSE:PAY opened at $24.17 on Friday. The company has a market capitalization of $3.02 billion, a PE ratio of 77.97 and a beta of 1.65. The company’s fifty day moving average is $28.85 and its 200-day moving average is $29.12. Paymentus has a 52 week low of $16.94 and a 52 week high of $38.94.

Insider Activity

In other Paymentus 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 transaction of $98,178.60. Following the transaction, the general counsel now directly owns 94,855 shares in the company, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in Paymentus in the fourth quarter valued at about $32,000. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus during the 4th quarter worth about $35,000. R Squared Ltd bought a new stake in shares of Paymentus in the 4th quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Paymentus in the 3rd quarter valued at approximately $43,000. Finally, Deutsche Bank AG bought a new position in Paymentus during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds 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.