CAB Payments (LON:CABP) Trading 12.1% Higher – Here’s What Happened

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

Analysts Set New Price Targets

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

CAB Payments Stock Performance

The firm has a market capitalization of £187.86 million and a P/E ratio of 25.52. The stock has a 50 day moving average of GBX 58.25 and a 200-day moving average of GBX 53.16.

Insider Activity

In other CAB Payments 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 cost of GBX 51 per share, for a total transaction of £49,909.11. 1.17% of the stock is currently owned by company insiders.

CAB Payments Company Profile

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.