Paymentus (NYSE:PAY) Rating Lowered to Sell at StockNews.com

Paymentus (NYSE:PAY) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages also recently commented on PAY. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company raised their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Wedbush assumed coverage on shares of Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Robert W. Baird lowered their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Paymentus presently has a consensus rating of “Hold” and a consensus target price of $31.83.

Paymentus Price Performance

Shares of NYSE:PAY opened at $28.97 on Tuesday. The company has a 50 day moving average of $30.18 and a 200-day moving average of $28.49. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 93.45 and a beta of 1.68. Paymentus has a one year low of $16.94 and a one year high of $38.94.

Insider Activity at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction dated 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 directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the transaction, the general counsel now 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. 87.76% of the stock is currently owned by insiders.

Institutional Trading of Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Square Financial Group LLC purchased a new stake in Paymentus in the 4th quarter worth approximately $32,000. Advisors Asset Management Inc. lifted its stake in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus during the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Paymentus in the third quarter worth approximately $43,000. Finally, R Squared Ltd purchased a new position in shares of Paymentus in the fourth quarter valued at about $43,000. 78.38% of the stock is currently owned by institutional investors.

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.