Paymentus (NYSE:PAY) Stock Price Down 4.1% - Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report)'s share price fell 4.1% during mid-day trading on Monday . The stock traded as low as $33.56 and last traded at $33.56. 78,974 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 443,048 shares. The stock had previously closed at $35.00.

Wall Street Analyst Weigh In

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

Paymentus Stock Down 5.9 %

The company has a market cap of $4.10 billion, a price-to-earnings ratio of 106.23 and a beta of 1.67. The business has a 50-day simple moving average of $32.91 and a two-hundred day simple moving average of $25.35.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares of the company's stock, valued at $3,658,478. This trade represents a 25.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 87.76% of the company's stock.

Institutional Investors Weigh In On Paymentus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its position in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock worth $34,000 after purchasing an additional 1,027 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock valued at $26,000 after buying an additional 1,100 shares during the period. RiverPark Advisors LLC grew its position in Paymentus by 8.8% during the third quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider's stock worth $311,000 after buying an additional 1,258 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Paymentus during the third quarter valued at about $43,000. Finally, XTX Topco Ltd raised its holdings in Paymentus by 17.2% in the 3rd quarter. XTX Topco Ltd now owns 20,905 shares of the business services provider's stock valued at $419,000 after acquiring an additional 3,064 shares in the last quarter. 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.