Paymentus (NYSE:PAY) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Paymentus (NYSE:PAY) from a hold rating to a sell rating in a report released on Friday morning.

A number of other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird dropped their price target on shares of Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.83.

Paymentus Price Performance

Shares of Paymentus stock opened at $24.17 on Friday. Paymentus has a 1-year low of $16.94 and a 1-year high of $38.94. The business’s fifty day moving average price is $28.85 and its two-hundred day moving average price is $29.22. The company has a market capitalization of $3.02 billion, a P/E ratio of 77.97 and a beta of 1.65.

Insider Transactions at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business’s 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 sale, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

A number of hedge funds have recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in shares of Paymentus during the fourth quarter valued at approximately $32,000. TimesSquare Capital Management LLC acquired a new stake in Paymentus during the 4th quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus during the 3rd quarter valued at $43,000. R Squared Ltd purchased a new stake in shares of Paymentus in the fourth quarter valued at $43,000. Finally, Deutsche Bank AG acquired a new stake in shares of Paymentus in the fourth quarter worth $73,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.