Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has been given an average rating of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.00.

A number of equities analysts have recently issued reports on PAY shares. Robert W. Baird cut their price target on shares of Paymentus from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 4th. The Goldman Sachs Group set a $28.00 target price on shares of Paymentus and gave the company a “neutral” rating in a report on Wednesday, April 2nd. Wells Fargo & Company boosted their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th.

Insider Transactions at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction that occurred 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 of the company’s stock, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the 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 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. Insiders own 87.76% of the company’s stock.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors grew its holdings in Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after buying an additional 888,914 shares during the period. Driehaus Capital Management LLC purchased a new stake in Paymentus in the fourth quarter valued at approximately $24,568,000. Invesco Ltd. increased its position in Paymentus by 246.2% during the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock worth $18,931,000 after purchasing an additional 412,095 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Paymentus during the fourth quarter worth approximately $12,064,000. Finally, Adams Street Partners LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $8,953,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Performance

NYSE:PAY opened at $29.02 on Friday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 93.60 and a beta of 1.65. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94. The stock has a fifty day moving average price of $27.83 and a two-hundred day moving average price of $29.50.

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.