Paymentus Holdings, Inc. (NYSE:PAY) Receives $30.00 Consensus Target Price from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned 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 $30.00.

PAY has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $28.00 price objective on Paymentus and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Wedbush restated an "outperform" rating and set a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. StockNews.com downgraded Paymentus from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. Wells Fargo & Company increased their price target on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th.

Paymentus Stock Down 1.6 %

NYSE:PAY traded down $0.50 on Friday, reaching $29.58. 13,308 shares of the company's stock traded hands, compared to its average volume of 473,138. The firm has a market cap of $3.70 billion, a PE ratio of 95.40 and a beta of 1.65. Paymentus has a 12 month low of $16.94 and a 12 month high of $38.94. The stock has a 50-day simple moving average of $27.95 and a 200-day simple moving average of $29.44.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus 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 sale, the chief financial officer now owns 466,035 shares of the company's stock, valued at $14,908,459.65. This trade represents 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.

Institutional Inflows and Outflows

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

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.