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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $28.80.

Several research analysts have recently weighed in on PAY shares. 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 boosted their price objective on shares of Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price objective on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th.

Insider Activity at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’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 transaction of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. This represents a 25.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 87.76% of the company’s stock.

Hedge Funds Weigh In On Paymentus

A number of institutional investors have recently added to or reduced their stakes in PAY. GSA Capital Partners LLP lifted its stake in Paymentus by 38.2% in the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after acquiring an additional 34,307 shares during the last quarter. Cerity Partners LLC acquired a new stake in Paymentus in the 3rd quarter valued at about $629,000. PDT Partners LLC grew its holdings in Paymentus by 39.4% during the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after purchasing an additional 13,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after buying an additional 28,628 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Paymentus in the third quarter valued at approximately $331,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Performance

Shares of PAY opened at $34.35 on Friday. The stock has a 50 day simple moving average of $29.73 and a 200 day simple moving average of $23.65. Paymentus has a 52-week low of $14.77 and a 52-week high of $38.94. The firm has a market capitalization of $4.28 billion, a PE ratio of 110.81 and a beta of 1.63.

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.