Robert W. Baird Has Lowered Expectations for Paymentus (NYSE:PAY) Stock Price

Paymentus (NYSE:PAY - Get Free Report) had its target price decreased by investment analysts at Robert W. Baird from $36.00 to $30.00 in a note issued to investors on Friday, Marketbeat reports. The firm presently has an "outperform" rating on the business services provider's stock. Robert W. Baird's target price suggests a potential upside of 12.07% from the stock's previous close.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. dropped 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. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a report on Wednesday, March 19th. Wedbush restated an "outperform" rating and issued a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. Finally, Wells Fargo & Company raised 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.00.

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Paymentus Trading Up 9.8 %

PAY traded up $2.40 on Friday, hitting $26.77. 176,524 shares of the company's stock were exchanged, compared to its average volume of 327,048. Paymentus has a fifty-two week low of $16.94 and a fifty-two week high of $38.94. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 86.35 and a beta of 1.65. The firm has a 50-day moving average price of $28.47 and a 200-day moving average price of $29.22.

Insider Buying and Selling

In other news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. This trade 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 hedge funds have recently made changes to their positions in PAY. Park Square Financial Group LLC acquired a new position in Paymentus during the fourth quarter worth $32,000. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus in the 4th quarter valued at $35,000. R Squared Ltd acquired a new position in Paymentus during the 4th quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Paymentus during the 3rd quarter valued at about $43,000. Finally, Deutsche Bank AG acquired a new position in Paymentus in the 4th quarter valued at about $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.