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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $36.80.

PAY has been the subject of a number of analyst reports. Wall Street Zen raised Paymentus from a “sell” rating to a “hold” rating in a research note on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on Paymentus from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Robert W. Baird lifted their price objective on Paymentus from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their price objective on Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th.

Paymentus Stock Down 1.3%

Shares of Paymentus stock opened at $38.23 on Friday. Paymentus has a 12 month low of $16.94 and a 12 month high of $40.43. The business has a fifty day simple moving average of $32.82 and a 200 day simple moving average of $32.05. The stock has a market cap of $4.78 billion, a PE ratio of 123.32 and a beta of 1.61.

Insider Buying and Selling at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $38.01, for a total value of $433,656.09. Following the completion of the transaction, the director now directly owns 73,963 shares of the company’s stock, valued at approximately $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 75.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after acquiring an additional 419,736 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Paymentus in the first quarter valued at about $471,000. Millennium Management LLC lifted its holdings in shares of Paymentus by 4.2% in the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock valued at $6,365,000 after purchasing an additional 9,890 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 683 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 665 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

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.