Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.71 and traded as high as $32.50. Paymentus shares last traded at $32.31, with a volume of 787,523 shares traded.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wedbush set a $40.00 target price on Paymentus and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped 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, Wall Street Zen upgraded Paymentus from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.80.
Read Our Latest Stock Report on Paymentus
Paymentus Trading Down 0.8%
The business's 50-day moving average is $35.05 and its two-hundred day moving average is $31.74. The stock has a market capitalization of $4.23 billion, a PE ratio of 86.59 and a beta of 1.65.
Insider Transactions at Paymentus
In other 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 transaction of $433,656.09. Following the sale, the director now owns 73,963 shares in the company, 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 available at this hyperlink. Company insiders own 75.43% of the company's stock.
Institutional Investors Weigh In On Paymentus
A number of large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Paymentus by 40.1% in the 4th quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider's stock worth $622,000 after buying an additional 5,452 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Paymentus during the fourth quarter worth about $215,000. Bank of America Corp DE lifted its stake in shares of Paymentus by 83.9% in the fourth quarter. Bank of America Corp DE now owns 14,096 shares of the business services provider's stock worth $461,000 after acquiring an additional 6,429 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Paymentus by 7.1% in the fourth quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock worth $434,000 after acquiring an additional 883 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Paymentus by 34.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,308 shares of the business services provider's stock valued at $1,513,000 after purchasing an additional 11,924 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.
About Paymentus
(
Get Free Report)
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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