Paymentus Holdings, Inc. (NYSE:PAY) Receives $28.80 Consensus Target Price from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have been given an average recommendation of "Hold" by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $28.80.

Several analysts recently issued reports on the company. Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group cut shares of Paymentus from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. The Goldman Sachs Group upped 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. Finally, Wells Fargo & Company raised their target price on shares of Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th.

Paymentus Price Performance

Paymentus stock traded down $0.64 during trading hours on Wednesday, reaching $32.67. The stock had a trading volume of 321,405 shares, compared to its average volume of 283,921. The company has a fifty day simple moving average of $32.38 and a 200-day simple moving average of $25.01. Paymentus has a 52 week low of $14.77 and a 52 week high of $38.94. The stock has a market cap of $4.07 billion, a PE ratio of 105.39 and a beta of 1.63.

Insiders Place Their Bets

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the company's stock in a transaction 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 transaction, the general counsel now directly owns 97,925 shares of the company's stock, valued at $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 87.76% of the company's stock.

Institutional Investors Weigh In On Paymentus

Large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Paymentus by 32,191.6% during the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider's stock valued at $4,564,000 after acquiring an additional 227,273 shares during the last quarter. JPMorgan Chase & Co. lifted 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 purchasing an additional 81,853 shares during the period. Main Management ETF Advisors LLC purchased a new stake in Paymentus in the third quarter worth approximately $839,000. GSA Capital Partners LLP grew its position in 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 period. Finally, Cerity Partners LLC purchased a new stake in Paymentus during the 3rd quarter valued at $629,000. 78.38% of the stock is currently owned by institutional investors.

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.