Analysts Set Paymentus Holdings, Inc. (NYSE:PAY) Target Price at $28.80

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.80.

A number of analysts have recently issued reports on PAY shares. Robert W. Baird lifted their price target on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th.

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 87.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paymentus

Several hedge funds have recently bought and sold shares of PAY. Barclays PLC boosted its holdings in Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock worth $101,000 after buying an additional 4,755 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Paymentus by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider’s stock valued at $4,129,000 after acquiring an additional 5,127 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Paymentus by 96.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 36,538 shares of the business services provider’s stock valued at $731,000 after acquiring an additional 17,969 shares during the period. Main Management ETF Advisors LLC acquired a new position in Paymentus in the 3rd quarter worth about $839,000. Finally, XTX Topco Ltd boosted its position in Paymentus by 17.2% during the third quarter. XTX Topco Ltd now owns 20,905 shares of the business services provider’s stock worth $419,000 after purchasing an additional 3,064 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Price Performance

NYSE:PAY opened at $33.63 on Friday. Paymentus has a one year low of $14.77 and a one year high of $38.94. The company has a market cap of $4.19 billion, a PE ratio of 108.48 and a beta of 1.63. The firm’s 50 day simple moving average is $28.66 and its 200 day simple moving average is $23.30.

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.