Paymentus (NYSE:PAY) Upgraded at StockNews.com

StockNews.com upgraded shares of Paymentus (NYSE:PAY) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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

Paymentus Trading Down 0.2 %

NYSE PAY opened at $27.31 on Wednesday. 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’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $28.72. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94.

Insider Buying and Selling

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the general counsel now owns 94,855 shares of the company’s stock, valued at $3,033,462.90. The trade was 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 owned by insiders.

Institutional Investors Weigh In On Paymentus

A number of large investors have recently bought and sold shares of PAY. Park Square Financial Group LLC acquired a new position in shares of Paymentus during the fourth quarter valued at about $32,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Paymentus during the fourth quarter valued at about $3,241,000. Castleark Management LLC acquired a new position in shares of Paymentus during the fourth quarter valued at about $3,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Paymentus by 34.7% during the fourth 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 valued at $1,513,000 after buying an additional 11,924 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Paymentus during the fourth quarter valued at about $291,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.