Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Rating of "Hold" by Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have received a consensus rating of "Hold" from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $36.80.

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wells Fargo & Company increased their price target on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Paymentus from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Robert W. Baird increased their price target on shares of Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Wolfe Research upgraded shares of Paymentus from a "peer perform" rating to an "outperform" rating in a research report on Tuesday.

Insider Activity

In other Paymentus news, Director William Ingram sold 11,409 shares of Paymentus 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 transaction, the director owned 73,963 shares of the company's stock, valued at approximately $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 75.43% of the company's stock.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in Paymentus in the 1st quarter valued at approximately $108,000. Legal & General Group Plc boosted its position in Paymentus by 40.1% during the fourth quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider's stock valued at $622,000 after purchasing an additional 5,452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Paymentus by 2,763.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock valued at $54,000 after purchasing an additional 1,990 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Paymentus during the fourth quarter valued at approximately $215,000. Finally, Bank of America Corp DE boosted its position in Paymentus by 83.9% during the fourth quarter. Bank of America Corp DE now owns 14,096 shares of the business services provider's stock valued at $461,000 after purchasing an additional 6,429 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Paymentus Stock Down 0.3%

NYSE PAY traded down $0.09 during trading hours on Friday, hitting $29.48. The company's stock had a trading volume of 408,750 shares, compared to its average volume of 435,816. The stock has a fifty day moving average of $34.09 and a 200 day moving average of $31.31. Paymentus has a twelve month low of $17.70 and a twelve month high of $40.43. The firm has a market capitalization of $3.69 billion, a P/E ratio of 75.60 and a beta of 1.56.

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.