Paymentus (NYSE:PAY) Stock Rating Lowered by StockNews.com

Paymentus (NYSE:PAY) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other equities research analysts have also issued research reports about the stock. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Wells Fargo & Company boosted their price objective on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird lowered their target price on Paymentus from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.83.

Paymentus Stock Performance

Shares of NYSE:PAY traded down $1.39 during trading on Friday, reaching $24.17. 566,063 shares of the stock were exchanged, compared to its average volume of 326,112. Paymentus has a 12-month low of $16.94 and a 12-month high of $38.94. The firm’s 50-day moving average price is $28.85 and its 200 day moving average price is $29.12. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 77.97 and a beta of 1.65.

Insider Transactions at Paymentus

In other news, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Hedge Funds Weigh In On Paymentus

Several large investors have recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new position in Paymentus in the fourth quarter worth $32,000. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus in the 4th quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus in the 3rd quarter valued at about $43,000. R Squared Ltd bought a new stake in shares of Paymentus during the 4th quarter valued at about $43,000. Finally, Deutsche Bank AG bought a new position in shares of Paymentus during the fourth quarter valued at approximately $73,000. Institutional investors own 78.38% of the company’s stock.

About Paymentus

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.