StockNews.com Upgrades Paymentus (NYSE:PAY) to Hold

Paymentus (NYSE:PAY) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Other analysts have also issued research reports about the stock. Wells Fargo & Company raised their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Robert W. Baird decreased their price target on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price target on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.83.

Paymentus Stock Performance

Shares of NYSE PAY opened at $27.06 on Wednesday. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94. The firm’s 50 day moving average price is $29.82 and its 200 day moving average price is $28.70. The firm has a market cap of $3.37 billion, a P/E ratio of 87.29 and a beta of 1.68.

Insider Activity at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after buying an additional 81,853 shares during the period. Cerity Partners LLC purchased a new stake in Paymentus during the 3rd quarter worth $629,000. PDT Partners LLC increased its stake in Paymentus by 39.4% during the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after buying an additional 13,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Paymentus by 196.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after buying an additional 28,628 shares during the period. Finally, Barclays PLC increased its stake in Paymentus by 1,569.3% during the 3rd 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 during the period. Hedge funds and other 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.