Paymentus (NYSE:PAY) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Paymentus (NYSE:PAY) from a hold rating to a sell rating in a report published on Tuesday.

A number of other research firms have also recently weighed in on PAY. JPMorgan Chase & Co. reduced their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. Wedbush assumed coverage on shares of Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price objective on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Robert W. Baird decreased their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.83.

Paymentus Trading Up 1.2 %

Shares of PAY opened at $29.29 on Tuesday. The firm has a market cap of $3.65 billion, a P/E ratio of 94.50 and a beta of 1.68. The stock’s 50 day moving average is $30.18 and its two-hundred day moving average is $28.49. Paymentus has a 12 month low of $16.94 and a 12 month high of $38.94.

Insider Activity at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares of the company’s stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction 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 $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 insiders.

Institutional Investors Weigh In On Paymentus

Several institutional investors and hedge funds have recently modified their holdings of the company. Park Square Financial Group LLC acquired a new position in Paymentus in the 4th quarter valued at about $32,000. TimesSquare Capital Management LLC purchased a new position in shares of Paymentus in the fourth quarter valued at approximately $35,000. R Squared Ltd acquired a new position in shares of Paymentus in the fourth quarter valued at approximately $43,000. Advisors Asset Management Inc. increased its stake in Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after buying an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

About Paymentus

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.