Paymentus Holdings, Inc. (NYSE:PAY) Given Average Rating of "Hold" by Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have been assigned an average rating of "Hold" from the eight ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.80.

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Paymentus from $21.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Canaccord Genuity Group lowered Paymentus from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company raised their target price on Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a report on Friday, November 15th.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares of the company's stock, valued at $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 87.76% of the company's stock.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP grew its stake in shares of Paymentus by 38.2% in the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider's stock worth $2,486,000 after purchasing an additional 34,307 shares during the last quarter. PDT Partners LLC boosted its holdings in Paymentus by 39.4% during the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider's stock worth $964,000 after buying an additional 13,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider's stock worth $864,000 after buying an additional 28,628 shares in the last quarter. Versor Investments LP acquired a new position in Paymentus in the third quarter worth approximately $331,000. Finally, Cerity Partners LLC bought a new position in shares of Paymentus in the third quarter valued at $629,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Performance

Shares of NYSE PAY traded down $2.54 during midday trading on Friday, hitting $34.61. The company's stock had a trading volume of 748,506 shares, compared to its average volume of 540,719. Paymentus has a 1-year low of $14.77 and a 1-year high of $38.94. The firm's fifty day moving average price is $28.39 and its 200-day moving average price is $23.17. The firm has a market cap of $4.31 billion, a P/E ratio of 111.65 and a beta of 1.63.

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.