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

CAB Payments Holdings Limited (LON:CABP) traded up 12.1% during trading on Thursday . The company traded as high as GBX 75.70 and last traded at GBX 74. 3,116,519 shares changed hands 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 restated a “house stock” rating on shares of CAB Payments in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 99.

CAB Payments Price Performance

The company has a 50 day simple moving average of GBX 57.79 and a 200-day simple moving average of GBX 53.02. The stock has a market capitalization of £187.86 million and a P/E ratio of 25.52.

Insider Buying and Selling

In other CAB Payments news, insider Kushagra (‘Kush’) Saxena bought 97,861 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of GBX 51 per share, for a total transaction of £49,909.11. 1.17% of the stock is currently owned by company insiders.

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.