Paymentus Holdings, Inc. (NYSE:PAY) Receives $31.83 Consensus PT from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $31.83.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird decreased their target price on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Paymentus in a research note on Wednesday, March 12th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company lifted their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th.

Paymentus Stock Performance

PAY stock opened at $27.31 on Monday. The company has a market capitalization of $3.40 billion, a PE ratio of 88.10 and a beta of 1.68. Paymentus has a one year low of $16.94 and a one year high of $38.94. The company’s 50 day moving average price is $29.59 and its two-hundred day moving average price is $28.82.

Insider Buying and Selling at Paymentus

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

Hedge Funds Weigh In On Paymentus

Hedge funds have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Paymentus in the 4th quarter worth about $32,000. TimesSquare Capital Management LLC bought a new position in Paymentus in the 4th quarter worth about $35,000. R Squared Ltd bought a new position in Paymentus in the 4th quarter worth about $43,000. Advisors Asset Management Inc. boosted its stake in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Paymentus in the 3rd quarter worth about $43,000. Institutional investors own 78.38% of the company’s stock.

About Paymentus

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.