CAB Payments (LON:CABP) Stock Price Up 12.1% – Here’s What Happened

CAB Payments Holdings Limited (LON:CABP) shot up 12.1% during trading on Thursday . The stock traded as high as GBX 75.70 and last traded at GBX 74. 3,116,519 shares were traded during trading, an increase of 415% from the average session volume of 605,161 shares. The stock had previously closed at GBX 66.

Analyst Upgrades and Downgrades

Separately, Shore Capital reaffirmed a “house stock” rating on shares of CAB Payments in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 99.

CAB Payments Stock Up 12.1%

The company has a market capitalization of £187.86 million and a PE ratio of 25.52. The firm has a 50-day moving average of GBX 57.79 and a two-hundred day moving average of GBX 53.02.

Insider Transactions at CAB Payments

In other news, insider Kushagra (‘Kush’) Saxena purchased 97,861 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average price of GBX 51 per share, for a total transaction of £49,909.11. Company insiders own 1.17% of the company’s stock.

About CAB Payments

CAB Payments Holdings plc and its subsidiaries (CAB Payments) is a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets. CAB Payments uses its strength of network, technology, and expertise to seamlessly move money where it’s needed and is the holding company for Crown Agents Bank, a UK-regulated bank.