Paymentus (NYSE:PAY - Get Free Report) had its target price raised by analysts at Robert W. Baird from $36.00 to $40.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the business services provider's stock. Robert W. Baird's target price indicates a potential upside of 11.77% from the company's current price.
Several other analysts also recently issued reports on PAY. Wells Fargo & Company upped their price target on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective 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. Wedbush set a $40.00 price objective on shares of Paymentus and gave the company an "outperform" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upped their price objective on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Paymentus currently has a consensus rating of "Moderate Buy" and an average target price of $36.80.
Check Out Our Latest Analysis on Paymentus
Paymentus Price Performance
Shares of NYSE PAY traded down $2.39 on Wednesday, hitting $35.79. The company's stock had a trading volume of 1,322,537 shares, compared to its average volume of 378,673. Paymentus has a 12-month low of $16.94 and a 12-month high of $40.43. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 115.45 and a beta of 1.61. The stock has a 50 day moving average of $32.82 and a 200-day moving average of $32.05.
Insiders Place Their Bets
In other Paymentus 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 transaction of $433,656.09. Following the transaction, the director now owns 73,963 shares of the company's stock, 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 accessible through this hyperlink. 75.43% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Paymentus
Large investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in Paymentus during the 4th quarter valued at $32,000. TimesSquare Capital Management LLC acquired a new position in Paymentus during the 4th quarter worth $35,000. AlphaQuest LLC grew its holdings in Paymentus by 152,600.0% during the 1st quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider's stock worth $40,000 after acquiring an additional 1,526 shares in the last quarter. Summit Securities Group LLC acquired a new position in Paymentus during the 1st quarter worth $47,000. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 acquiring an additional 1,990 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.
Paymentus Company Profile
(
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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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