Paymentus Holdings, Inc. (NYSE:PAY) Receives $30.00 Average PT from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have received a consensus rating of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $30.00.

Several brokerages have commented on PAY. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Wedbush began coverage on shares of Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, Robert W. Baird raised their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Paymentus Price Performance

NYSE PAY opened at $28.19 on Thursday. Paymentus has a 1 year low of $15.08 and a 1 year high of $38.94. The business’s 50-day moving average is $31.74 and its 200 day moving average is $28.17. The stock has a market capitalization of $3.51 billion, a PE ratio of 90.92 and a beta of 1.66.

Insider Activity

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the completion of the sale, the general counsel now owns 97,925 shares of the company’s stock, valued at $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now directly owns 466,035 shares of the company’s stock, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,136 shares of company stock worth $1,883,831. Insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Paymentus by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider’s stock valued at $510,000 after buying an additional 484 shares in the last quarter. Cetera Investment Advisers grew its holdings in Paymentus by 7.1% during the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 883 shares during the last quarter. Swiss National Bank grew its holdings in Paymentus by 2.7% during the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock valued at $1,222,000 after purchasing an additional 1,000 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,027 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in Paymentus in the 4th quarter worth about $35,000. 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.