Paymentus (NYSE:PAY) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of Paymentus (NYSE:PAY - Free Report) from a buy rating to a hold rating in a research note released on Friday.

Several other research firms have also recently commented on PAY. JPMorgan Chase & Co. boosted their price target on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $40.00 price target on Paymentus and gave the company an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company increased their price objective on Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Robert W. Baird lifted their target price on shares of Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Paymentus presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.80.

Paymentus Stock Performance

Shares of NYSE:PAY traded down $0.31 during mid-day trading on Friday, hitting $36.15. The stock had a trading volume of 434,660 shares, compared to its average volume of 382,013. The company's 50 day moving average is $33.38 and its 200-day moving average is $31.99. Paymentus has a 12-month low of $16.94 and a 12-month high of $40.43. The company has a market cap of $4.52 billion, a PE ratio of 116.61 and a beta of 1.65.

Insider Activity at Paymentus

In other news, Director William Ingram sold 11,409 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the transaction, the director now directly owns 73,963 shares in the company, 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 can be accessed through the SEC website. 75.43% of the stock is currently owned by company insiders.

Institutional Trading of Paymentus

A number of hedge funds have recently bought and sold shares of PAY. Entropy Technologies LP acquired a new stake in Paymentus during the fourth quarter worth about $337,000. D.A. Davidson & CO. bought a new position in shares of Paymentus during the 4th quarter worth approximately $328,000. TimesSquare Capital Management LLC bought a new stake in shares of Paymentus in the 4th quarter worth about $35,000. Arcadia Investment Management Corp MI bought a new position in shares of Paymentus in the fourth quarter valued at approximately $134,000. Finally, Navellier & Associates Inc. raised its position in Paymentus by 24.6% in the 4th quarter. Navellier & Associates Inc. now owns 86,524 shares of the business services provider's stock valued at $2,827,000 after purchasing an additional 17,061 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.