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

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) has been given an average rating of "Moderate Buy" by the seven analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $36.80.

PAY has been the topic of several recent research reports. Wedbush set a $40.00 price target on shares of Paymentus and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Robert W. Baird upped their target price on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th.

Insider Transactions at Paymentus

In other news, Director William Ingram sold 11,409 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $38.01, for a total value of $433,656.09. Following the completion of the sale, the director now directly owns 73,963 shares of the company's stock, valued at $2,811,333.63. This represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 75.43% of the stock is currently owned by insiders.

Institutional Trading of Paymentus

Several institutional investors have recently made changes to their positions in PAY. Goldman Sachs Group Inc. lifted its position in Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider's stock worth $14,927,000 after buying an additional 419,736 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Paymentus during the first quarter worth $471,000. Millennium Management LLC boosted its position in Paymentus by 4.2% during the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider's stock valued at $6,365,000 after purchasing an additional 9,890 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider's stock valued at $425,000 after purchasing an additional 683 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider's stock valued at $90,000 after purchasing an additional 665 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Trading Down 1.3%

Shares of NYSE PAY traded down $0.49 during midday trading on Friday, reaching $38.23. The company's stock had a trading volume of 742,144 shares, compared to its average volume of 374,243. Paymentus has a one year low of $16.94 and a one year high of $40.43. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 123.32 and a beta of 1.61. The company has a 50 day moving average price of $32.82 and a 200 day moving average price of $32.05.

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.