Paymentus (NYSE:PAY) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.69 and traded as high as $33.65. Paymentus shares last traded at $33.01, with a volume of 467,587 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Robert W. Baird upped their price target on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company upped their price objective on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Paymentus currently has an average rating of “Hold” and an average price target of $28.80.

Paymentus Trading Down 1.1 %

The business has a 50-day moving average of $31.89 and a 200 day moving average of $24.69. The firm has a market capitalization of $4.11 billion, a PE ratio of 106.48 and a beta of 1.63.

Insider Activity

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

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently modified their holdings of PAY. nVerses Capital LLC increased its holdings in Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after buying an additional 1,100 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Paymentus in the 3rd quarter worth approximately $43,000. Finally, Arcadia Investment Management Corp MI lifted its stake in Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 1,381 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.