Paymentus (NYSE:PAY) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Paymentus (NYSE:PAY) from a hold rating to a sell rating in a research report report published on Friday.

PAY has been the topic of a number of other reports. Wells Fargo & Company upped their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Robert W. Baird decreased their price objective on Paymentus from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. 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 research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Paymentus currently has an average rating of “Hold” and a consensus target price of $30.83.

Paymentus Trading Down 5.4 %

PAY opened at $24.17 on Friday. The company has a fifty day moving average price of $28.85 and a two-hundred day moving average price of $29.12. Paymentus has a 1-year low of $16.94 and a 1-year high of $38.94. The company has a market cap of $3.02 billion, a P/E ratio of 77.97 and a beta of 1.65.

Insider Activity at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, 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 currently owned by insiders.

Institutional Investors Weigh In On Paymentus

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Paymentus by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after buying an additional 81,853 shares during the period. Cerity Partners LLC bought a new position in shares of Paymentus during the 3rd quarter valued at approximately $629,000. Victory Capital Management Inc. purchased a new stake in shares of Paymentus during the 4th quarter worth approximately $215,000. Barclays PLC raised its holdings in shares of Paymentus by 1,569.3% in the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock worth $101,000 after purchasing an additional 4,755 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Paymentus by 2.6% in the third quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider’s stock valued at $4,129,000 after purchasing an additional 5,127 shares during the last quarter. 78.38% of the stock is currently 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.