Paymentus Holdings, Inc. (NYSE:PAY) Given Average Rating of “Hold” by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has received a consensus recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.80.

Several research firms recently issued reports on PAY. The Goldman Sachs Group upped their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Robert W. Baird upped their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price objective on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th.

Paymentus Stock Up 7.2 %

Shares of Paymentus stock opened at $35.00 on Wednesday. Paymentus has a 12-month low of $14.77 and a 12-month high of $38.94. The stock has a 50 day moving average price of $32.74 and a two-hundred day moving average price of $25.26. The stock has a market capitalization of $4.36 billion, a P/E ratio of 112.90 and a beta of 1.67.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’s stock in a transaction 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 completion of the transaction, the general counsel now directly owns 97,925 shares in the company, valued at approximately $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 87.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paymentus

Several institutional investors and hedge funds have recently bought and sold shares of PAY. nVerses Capital LLC lifted its holdings in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares during the period. MCF Advisors LLC lifted its stake in Paymentus by 80.1% during the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the period. Advisors Asset Management Inc. boosted its holdings in Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,027 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Paymentus in the 3rd quarter valued at approximately $43,000. Finally, Arcadia Investment Management Corp MI raised its holdings in shares of Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after buying an additional 1,381 shares in the last quarter. 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.