Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $36.80.

PAY has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their price objective on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird upped their price objective on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen upgraded Paymentus from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.

Paymentus Trading Up 5.5%

Shares of Paymentus stock opened at $34.07 on Wednesday. The stock has a 50 day moving average of $34.95 and a 200 day moving average of $31.72. Paymentus has a 12 month low of $17.38 and a 12 month high of $40.43. The firm has a market cap of $4.26 billion, a PE ratio of 87.36 and a beta of 1.65.

Insider Buying and Selling at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $38.01, for a total value of $433,656.09. Following the sale, the director now owns 73,963 shares in the company, valued at $2,811,333.63. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 87.76% of the company's stock.

Institutional Trading of Paymentus

Hedge funds and other institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in Paymentus in the 4th quarter valued at about $32,000. AlphaQuest LLC boosted its position in Paymentus by 152,600.0% in the 1st quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider's stock valued at $40,000 after buying an additional 1,526 shares during the period. Summit Securities Group LLC purchased a new stake in Paymentus in the 1st quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Paymentus by 2,763.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock valued at $54,000 after buying an additional 1,990 shares during the period. Finally, Deutsche Bank AG purchased a new position in Paymentus during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

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.

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