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

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have received an average rating of "Moderate Buy" from the seven analysts that are currently covering the firm, Marketbeat 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 price target among brokers that have issued ratings on the stock in the last year is $36.00.

Several brokerages recently issued reports on PAY. JPMorgan Chase & Co. raised their target price on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday. Robert W. Baird raised their target price on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. StockNews.com upgraded shares of Paymentus from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group raised their target price on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th.

Paymentus Stock Performance

NYSE:PAY traded down $0.06 during mid-day trading on Tuesday, hitting $36.90. The stock had a trading volume of 405,215 shares, compared to its average volume of 341,387. Paymentus has a twelve month low of $16.94 and a twelve month high of $38.94. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 119.03 and a beta of 1.61. The company's 50 day simple moving average is $28.99 and its 200 day simple moving average is $30.69.

Insider Buying and Selling at Paymentus

In other news, 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 approximately $3,033,462.90. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The stock was 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. This trade represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 75.43% of the company's stock.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC acquired a new position in Paymentus in the fourth quarter valued at $32,000. TimesSquare Capital Management LLC bought a new stake in Paymentus during the 4th quarter worth approximately $35,000. R Squared Ltd bought a new stake in Paymentus during the 4th quarter worth approximately $43,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Paymentus by 2,763.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock worth $54,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Paymentus in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds 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.