Wall Street Zen Downgrades Paymentus (NYSE:PAY) to Hold

Paymentus (NYSE:PAY - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

A number of other equities analysts also recently weighed in on PAY. Wedbush set a $40.00 target price on shares of Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Robert W. Baird lifted their price objective on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group increased their price objective on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their target price on Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Five 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.80.

Paymentus Stock Performance

Shares of NYSE:PAY traded up $0.68 during midday trading on Friday, hitting $36.49. 617,910 shares of the stock were exchanged, compared to its average volume of 380,691. The company has a market capitalization of $4.57 billion, a PE ratio of 117.71 and a beta of 1.61. The business's fifty day simple moving average is $33.20 and its two-hundred day simple moving average is $32.06. Paymentus has a 52-week low of $16.94 and a 52-week high of $40.43.

Insider Buying and Selling at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of the company's stock in a transaction 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 in the company, valued at approximately $2,811,333.63. This represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 75.43% of the company's stock.

Institutional Investors Weigh In On Paymentus

Large investors have recently made changes to their positions in the business. Capital International Investors lifted its stake in shares of Paymentus by 25.6% during the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock valued at $142,509,000 after buying an additional 888,914 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paymentus by 30.7% during the 1st quarter. Vanguard Group Inc. now owns 2,347,870 shares of the business services provider's stock worth $61,279,000 after acquiring an additional 551,211 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Paymentus by 152.3% in the 1st quarter. Driehaus Capital Management LLC now owns 1,897,552 shares of the business services provider's stock worth $49,526,000 after purchasing an additional 1,145,557 shares in the last quarter. Next Century Growth Investors LLC raised its stake in shares of Paymentus by 5.4% during the first quarter. Next Century Growth Investors LLC now owns 1,356,980 shares of the business services provider's stock worth $35,417,000 after acquiring an additional 69,156 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Paymentus by 81.5% during the first quarter. Invesco Ltd. now owns 1,051,664 shares of the business services provider's stock valued at $27,448,000 after buying an additional 472,205 shares during the period. 78.38% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.