Paymentus Holdings, Inc. (NYSE:PAY) Receives $28.80 Average PT from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.80.

A number of analysts have weighed in on the company. Robert W. Baird increased their target price 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 downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price objective 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 raised their target price on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th.

Paymentus Trading Up 7.2 %

Shares of PAY opened at $35.00 on Wednesday. The company’s fifty day simple moving average is $32.74 and its 200-day simple moving average is $25.17. The company has a market cap of $4.36 billion, a P/E ratio of 112.90 and a beta of 1.63. Paymentus has a twelve month low of $14.77 and a twelve month high of $38.94.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the transaction, the general counsel now directly owns 97,925 shares in the company, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently added to or reduced their stakes in PAY. nVerses Capital LLC lifted its position in shares of Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the last quarter. MCF Advisors LLC boosted its stake in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Paymentus by 155.1% in the third 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. acquired a new position in shares of Paymentus during the third quarter worth $43,000. Finally, Arcadia Investment Management Corp MI lifted its holdings in shares of Paymentus by 141.1% during the 2nd 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. 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.