Paymentus (NYSE:PAY) Upgraded to Hold at StockNews.com

Paymentus (NYSE:PAY - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Wednesday.

Other analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Robert W. Baird reduced their target price on Paymentus from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $38.00 price target on shares of Paymentus in a research note on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.83.

Paymentus Stock Performance

NYSE:PAY traded down $0.06 during trading hours on Wednesday, reaching $27.31. The company's stock had a trading volume of 483,849 shares, compared to its average volume of 320,657. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 88.10 and a beta of 1.68. The firm has a 50-day simple moving average of $29.59 and a 200-day simple moving average of $28.72. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94.

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Insider Buying and Selling at Paymentus

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the company's stock in a transaction dated 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 owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 87.76% of the company's stock.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently bought and sold shares of PAY. Park Square Financial Group LLC purchased a new stake in shares of Paymentus during the fourth quarter valued at approximately $32,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Paymentus in the 4th quarter valued at approximately $3,241,000. Castleark Management LLC purchased a new stake in Paymentus during the 4th quarter valued at $3,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Paymentus by 34.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,308 shares of the business services provider's stock worth $1,513,000 after purchasing an additional 11,924 shares in the last quarter. Finally, Wolverine Trading LLC purchased a new position in shares of Paymentus in the fourth quarter worth $291,000. 78.38% of the stock is currently owned by institutional investors.

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.