StockNews.com Downgrades Paymentus (NYSE:PAY) to Sell

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

Several other equities research analysts also recently issued reports on the company. Wedbush began coverage on Paymentus in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. reduced their price target on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.60.

Paymentus Stock Performance

Shares of NYSE:PAY traded up $6.41 during mid-day trading on Tuesday, hitting $31.09. 2,514,904 shares of the company traded hands, compared to its average volume of 323,415. The firm has a market cap of $3.88 billion, a P/E ratio of 100.30 and a beta of 1.68. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94. The firm’s 50 day simple moving average is $30.25 and its 200 day simple moving average is $28.49.

Insider Activity

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

Institutional Investors Weigh In On Paymentus

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in shares of Paymentus during the fourth quarter worth $32,000. TimesSquare Capital Management LLC acquired a new position in Paymentus during the fourth quarter valued at $35,000. R Squared Ltd acquired a new position in Paymentus during the fourth quarter valued at $43,000. Advisors Asset Management Inc. raised its position in Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Paymentus during the third quarter valued at $43,000. 78.38% of the stock is owned by institutional investors and hedge funds.

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.