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

Paymentus Holdings, Inc. (NYSE:PAY) has been given an average rating of “Hold” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.00.

PAY has been the subject of a number of research analyst reports. Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird lifted their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th.

Paymentus Trading Down 0.7 %

Shares of Paymentus stock opened at $30.42 on Friday. The company has a market cap of $3.79 billion, a P/E ratio of 98.11 and a beta of 1.67. The business has a 50-day moving average price of $33.87 and a two-hundred day moving average price of $26.48. Paymentus has a 1-year low of $14.77 and a 1-year high of $38.94.

Insiders Place Their Bets

In other 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 transaction, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 87.76% of the company’s stock.

Hedge Funds Weigh In On Paymentus

Large investors have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Paymentus by 32,191.6% in the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after acquiring an additional 227,273 shares in the last quarter. JPMorgan Chase & Co. grew its position in Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in Paymentus in the 3rd quarter valued at about $839,000. GSA Capital Partners LLP lifted its position in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after buying an additional 34,307 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Paymentus in the 3rd quarter worth approximately $629,000. 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.