Paymentus (NYSE:PAY) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.69 and traded as high as $33.65. Paymentus shares last traded at $33.01, with a volume of 467,587 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PAY shares. Canaccord Genuity Group cut shares of Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Wells Fargo & Company upped their price objective on Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their target price on Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Finally, Robert W. Baird increased their price target on Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Paymentus currently has an average rating of "Hold" and an average price target of $28.80.

Paymentus Stock Down 1.1 %

The stock has a fifty day moving average of $31.89 and a two-hundred day moving average of $24.69. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 106.48 and a beta of 1.63.

Insiders Place Their Bets

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus 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 completion of the transaction, the general counsel now directly owns 97,925 shares of the company's stock, valued at approximately $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 87.76% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PAY. GSA Capital Partners LLP increased its holdings in Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider's stock valued at $2,486,000 after acquiring an additional 34,307 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Paymentus in the third quarter valued at approximately $629,000. PDT Partners LLC increased its stake in shares of Paymentus by 39.4% during the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider's stock worth $964,000 after purchasing an additional 13,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Paymentus by 196.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider's stock worth $864,000 after purchasing an additional 28,628 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in Paymentus in the 3rd quarter valued at approximately $839,000. Institutional investors and hedge funds 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.