Paymentus (NYSE:PAY) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Paymentus (NYSE:PAY - Free Report) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other brokerages have also recently commented on PAY. JPMorgan Chase & Co. decreased their price objective on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Wedbush reiterated an "outperform" rating and set a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company upped their target price on Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.00.

Paymentus Price Performance

Paymentus stock traded up $2.40 during trading hours on Friday, hitting $26.77. 176,524 shares of the stock traded hands, compared to its average volume of 327,048. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 86.35 and a beta of 1.65. The firm's 50 day moving average price is $28.47 and its 200-day moving average price is $29.22.

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Insiders Place Their Bets

In related news, CFO Sanjay Kalra sold 15,794 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were 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 approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares in the company, 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 company insiders.

Hedge Funds Weigh In On Paymentus

A number of institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new position in shares of Paymentus during the 4th quarter worth $32,000. TimesSquare Capital Management LLC acquired a new stake in shares of Paymentus during the fourth quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus in the third quarter worth $43,000. R Squared Ltd purchased a new stake in shares of Paymentus during the fourth quarter worth approximately $43,000. Finally, Deutsche Bank AG purchased a new stake in shares of Paymentus during the 4th quarter worth $73,000. Hedge funds and other 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.