Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Rating of “Moderate Buy” by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.00.

A number of equities analysts have recently issued reports on PAY shares. JPMorgan Chase & Co. increased their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Wedbush set a $40.00 price objective on shares of Paymentus and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on shares of Paymentus from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, Robert W. Baird lifted their price objective on shares of Paymentus from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th.

Insider Buying and Selling at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of Paymentus 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 transaction, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction that occurred on 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 transaction, the general counsel now directly owns 94,855 shares in the company, valued at approximately $3,033,462.90. The trade was a 3.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 75.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Paymentus by 13.0% in the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after purchasing an additional 81,853 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Paymentus by 40.1% in the fourth quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 5,452 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Paymentus in the fourth quarter valued at approximately $215,000. Barclays PLC raised its holdings in shares of Paymentus by 1,569.3% in the third quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 4,755 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Paymentus by 2.6% in the third quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider’s stock valued at $4,129,000 after purchasing an additional 5,127 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Paymentus Trading Up 3.5%

Shares of Paymentus stock opened at $38.13 on Tuesday. The firm has a fifty day simple moving average of $29.24 and a 200-day simple moving average of $30.79. Paymentus has a 1-year low of $16.94 and a 1-year high of $38.94. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 122.98 and a beta of 1.61.

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.