Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.83.

A number of brokerages have weighed in on PAY. JPMorgan Chase & Co. cut their price objective on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Wedbush restated an "outperform" rating and issued a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. StockNews.com downgraded shares of Paymentus from a "hold" rating to a "sell" rating in a research report on Tuesday, March 11th. Wells Fargo & Company increased their price objective on shares of Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird lowered their price objective on shares of Paymentus from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th.

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Paymentus Price Performance

PAY stock traded down $0.91 during trading on Monday, reaching $27.45. The company had a trading volume of 213,823 shares, compared to its average volume of 484,485. Paymentus has a 52 week low of $16.94 and a 52 week high of $38.94. The company has a market cap of $3.42 billion, a P/E ratio of 88.51 and a beta of 1.68. The business has a 50 day moving average of $29.91 and a 200 day moving average of $28.67.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction 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 transaction, the general counsel now directly owns 94,855 shares of the company's stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction 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 of the company's stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors lifted its holdings in shares of Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock worth $142,509,000 after acquiring an additional 888,914 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paymentus by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider's stock worth $58,697,000 after acquiring an additional 273,027 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Paymentus by 23.8% in the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock worth $28,713,000 after acquiring an additional 169,237 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Paymentus in the 4th quarter worth about $24,568,000. Finally, Invesco Ltd. lifted its holdings in shares of Paymentus by 246.2% in the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after acquiring an additional 412,095 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other 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.