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

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.00.

Several research analysts recently issued reports on PAY shares. The Goldman Sachs Group set a $28.00 target price on Paymentus and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Robert W. Baird reduced their price objective on Paymentus from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. StockNews.com downgraded Paymentus from a “hold” rating to a “sell” rating in a report on Friday, April 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a report on Wednesday, March 12th.

Insider Activity

In other news, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares of the company’s stock, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the sale, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

Several institutional investors and hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC acquired a new position in Paymentus in the 4th quarter valued at about $32,000. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus during the 4th quarter worth about $35,000. R Squared Ltd purchased a new stake in Paymentus during the fourth quarter worth approximately $43,000. Deutsche Bank AG acquired a new stake in Paymentus in the 4th quarter valued at $73,000. Finally, Barclays PLC raised its holdings in shares of Paymentus by 1,569.3% during the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after buying an additional 4,755 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

NYSE PAY opened at $30.06 on Friday. The company has a market cap of $3.76 billion, a PE ratio of 96.98 and a beta of 1.65. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94. The firm’s 50 day moving average price is $27.95 and its 200-day moving average price is $29.44.

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.