Paymentus (NYSE:PAY) Trading Down 4% - Time to Sell?

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) shares fell 4% during trading on Tuesday . The company traded as low as $37.73 and last traded at $38.12. 428,333 shares were traded during trading, an increase of 16% from the average session volume of 368,518 shares. The stock had previously closed at $39.72.

Analyst Ratings Changes

A number of brokerages have commented on PAY. Wall Street Zen upgraded Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. 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 research note on Tuesday, May 6th. Robert W. Baird boosted their price objective on Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wedbush set a $40.00 price objective on Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.80.

Paymentus Price Performance

The firm has a market capitalization of $4.48 billion, a PE ratio of 115.45 and a beta of 1.61. The stock has a 50-day moving average price of $33.02 and a 200-day moving average price of $32.05.

Insider Activity at Paymentus

In related news, Director William Ingram sold 11,409 shares of the business's stock in a transaction dated Monday, May 12th. The stock was 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. The trade was a 13.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 75.43% of the stock is owned by corporate insiders.

Institutional Trading of Paymentus

Several hedge funds and other institutional investors have recently bought and sold shares of PAY. Park Square Financial Group LLC bought a new position in shares of Paymentus during the fourth quarter valued at approximately $32,000. TimesSquare Capital Management LLC bought a new position in shares of Paymentus during the fourth quarter valued at approximately $35,000. AlphaQuest LLC grew its holdings in shares of Paymentus by 152,600.0% during the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider's stock valued at $40,000 after purchasing an additional 1,526 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Paymentus during the first quarter valued at approximately $47,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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. 78.38% of the stock is owned by institutional investors.

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.