Analysts Set Paymentus Holdings, Inc. (NYSE:PAY) Target Price at $31.83

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight research firms that are covering the firm, MarketBeat reports. Five research 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 target among brokers that have issued a report on the stock in the last year is $31.83.

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Robert W. Baird cut their price target 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. StockNews.com downgraded shares of Paymentus from a "hold" rating to a "sell" rating in a research note on Tuesday, March 11th. Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th.

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Insider Transactions at Paymentus

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

Hedge Funds Weigh In On Paymentus

Several large investors have recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new position in shares of Paymentus in the fourth quarter worth approximately $32,000. Advisors Asset Management Inc. raised its position 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 valued at $34,000 after acquiring an additional 1,027 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Paymentus in the third quarter worth about $43,000. Finally, R Squared Ltd bought a new stake in Paymentus during the fourth quarter worth approximately $43,000. Institutional investors own 78.38% of the company's stock.

Paymentus Price Performance

Shares of PAY traded down $1.40 during mid-day trading on Monday, reaching $28.26. The company's stock had a trading volume of 1,090,384 shares, compared to its average volume of 316,219. Paymentus has a 12-month low of $16.94 and a 12-month high of $38.94. The stock has a market cap of $3.52 billion, a PE ratio of 91.15 and a beta of 1.68. The company's 50 day moving average is $29.91 and its 200 day moving average is $28.67.

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.