Robert W. Baird Increases Paymentus (NYSE:PAY) Price Target to $36.00

Paymentus (NYSE:PAY) had its target price upped by equities research analysts at Robert W. Baird from $30.00 to $36.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 2.26% from the company’s previous close.

Several other brokerages also recently commented on PAY. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. Wells Fargo & Company upped 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. The Goldman Sachs Group set a $28.00 price objective on shares of Paymentus and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Paymentus Price Performance

Shares of PAY stock opened at $35.21 on Tuesday. Paymentus has a one year low of $16.94 and a one year high of $38.94. The company’s fifty day moving average price is $28.58 and its 200-day moving average price is $30.45. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 113.56 and a beta of 1.61.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction 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 represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 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 $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is owned by insiders.

Institutional Trading of Paymentus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 4,755 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after purchasing an additional 81,853 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in Paymentus during the 4th quarter valued at about $963,000. R Squared Ltd purchased a new stake in Paymentus in the 4th quarter worth about $43,000. Finally, Entropy Technologies LP bought a new stake in Paymentus in the fourth quarter worth about $337,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.