Paymentus Holdings, Inc. (NYSE:PAY) Receives $30.00 Consensus Price Target from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been assigned an average rating of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.00.

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company boosted their target price on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wedbush initiated coverage on Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Robert W. Baird boosted their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Paymentus Price Performance

Paymentus stock opened at $27.42 on Thursday. Paymentus has a 12 month low of $14.77 and a 12 month high of $38.94. The company has a fifty day moving average price of $31.89 and a two-hundred day moving average price of $28.05. The company has a market cap of $3.42 billion, a PE ratio of 88.45 and a beta of 1.66.

Insider Activity

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,280,401.92. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,136 shares of company stock valued at $1,883,831 over the last 90 days. 87.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Paymentus by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider’s stock worth $510,000 after buying an additional 484 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Paymentus by 7.1% during the fourth quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock worth $434,000 after buying an additional 883 shares in the last quarter. Swiss National Bank grew its holdings in shares of Paymentus by 2.7% during the fourth quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock worth $1,222,000 after buying an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. grew its stake 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 valued at $34,000 after purchasing an additional 1,027 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in Paymentus in the fourth quarter valued at approximately $35,000. 78.38% of the stock is currently owned by 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.