Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) PT at $31.83

Paymentus Holdings, Inc. (NYSE:PAY) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $31.83.

A number of research firms have recently commented on PAY. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. Wells Fargo & Company boosted their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Robert W. Baird lowered their price objective on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th.

Paymentus Stock Performance

NYSE:PAY opened at $27.83 on Monday. The firm’s fifty day moving average is $29.74 and its 200-day moving average is $28.69. Paymentus has a 52 week low of $16.94 and a 52 week high of $38.94. The firm has a market cap of $3.47 billion, a P/E ratio of 89.77 and a beta of 1.68.

Insider Activity

In other news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated 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 owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 approximately $3,033,462.90. This represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new position in Paymentus during the fourth quarter valued at about $32,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Paymentus during the fourth quarter valued at about $3,241,000. Castleark Management LLC bought a new position in 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 position in 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 period. Finally, Wolverine Trading LLC bought a new position in Paymentus during the fourth quarter valued at about $291,000. 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.