Paymentus (NYSE:PAY) Shares Up 17.5% – What’s Next?

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price traded up 17.5% during trading on Tuesday . The stock traded as high as $27.48 and last traded at $29.01. 75,134 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 316,355 shares. The stock had previously closed at $24.68.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAY. The Goldman Sachs Group raised their price objective on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Robert W. Baird dropped their price objective on Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company increased their price target 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. StockNews.com lowered shares of Paymentus from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Paymentus has an average rating of “Hold” and a consensus price target of $31.83.

Paymentus Trading Down 7.6 %

The company has a 50 day moving average price of $30.18 and a 200 day moving average price of $28.49. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 92.08 and a beta of 1.68.

Insider Buying and Selling

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

Hedge Funds Weigh In On Paymentus

Several large investors have recently modified their holdings of the stock. Park Square Financial Group LLC bought a new stake in Paymentus in the 4th quarter valued at about $32,000. Advisors Asset Management Inc. lifted its stake in Paymentus by 155.1% during the third 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 during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Paymentus in the 4th quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus during the 3rd quarter worth $43,000. Finally, R Squared Ltd bought a new stake in shares of Paymentus during the 4th quarter worth $43,000. 78.38% of the stock is owned by institutional investors.

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.