Paymentus (NYSE:PAY) Shares Gap Down - What's Next?

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $29.66, but opened at $28.76. Paymentus shares last traded at $27.68, with a volume of 83,479 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAY. Wells Fargo & Company increased their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Robert W. Baird decreased their target price on shares of Paymentus from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Wedbush reiterated an "outperform" rating and set a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $31.83.

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Paymentus Stock Performance

The firm has a market capitalization of $3.40 billion, a P/E ratio of 88.10 and a beta of 1.68. The firm has a 50-day moving average of $29.65 and a 200-day moving average of $28.69.

Insider Activity at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. This trade represents a 3.28 % 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, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the sale, the general counsel now owns 94,855 shares of the company's stock, valued at approximately $3,033,462.90. This represents a 3.14 % 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PAY. Park Square Financial Group LLC purchased a new stake in shares of Paymentus during the 4th quarter valued at about $32,000. TimesSquare Capital Management LLC purchased a new stake in Paymentus during the fourth quarter valued at approximately $35,000. R Squared Ltd bought a new position in Paymentus in the fourth quarter worth approximately $43,000. Advisors Asset Management Inc. boosted its stake in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock worth $34,000 after acquiring an additional 1,027 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Paymentus during the 3rd quarter valued at $43,000. Institutional investors own 78.38% of the company's stock.

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.