Paymentus (NYSE:PAY) Shares Gap Down – Time to Sell?

Paymentus Holdings, Inc. (NYSE:PAY) gapped down prior to trading on Monday . The stock had previously closed at $29.66, but opened at $28.76. Paymentus shares last traded at $27.68, with a volume of 83,479 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Robert W. Baird cut 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. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Paymentus in a research note on Wednesday, March 12th. Wells Fargo & Company increased 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. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.83.

Paymentus Stock Down 4.6 %

The stock has a market capitalization of $3.37 billion, a P/E ratio of 87.29 and a beta of 1.68. The business has a fifty day moving average price of $29.82 and a 200-day moving average price of $28.70.

Insider Activity

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the transaction, the general counsel now directly owns 94,855 shares in the company, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Paymentus in the fourth quarter valued at about $32,000. TimesSquare Capital Management LLC bought a new position in Paymentus in the fourth quarter valued at about $35,000. R Squared Ltd bought a new position in Paymentus in the fourth quarter valued at about $43,000. Advisors Asset Management Inc. lifted its holdings in Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Paymentus in the third quarter valued at about $43,000. 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.