StockNews.com Upgrades Paymentus (NYSE:PAY) to Hold

Paymentus (NYSE:PAY) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other brokerages also recently issued reports on PAY. Robert W. Baird cut their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Paymentus in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company increased their target price on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with 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.com, Paymentus currently has an average rating of “Hold” and a consensus target price of $31.83.

Paymentus Stock Down 1.5 %

PAY opened at $27.42 on Wednesday. The business has a 50 day moving average price of $29.65 and a two-hundred day moving average price of $28.69. The company has a market cap of $3.42 billion, a PE ratio of 88.44 and a beta of 1.68. Paymentus has a 52 week low of $16.94 and a 52 week high of $38.94.

Insider Buying and Selling

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

Institutional Investors Weigh In On Paymentus

Large investors have recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in Paymentus during the 4th quarter valued at $32,000. Advisors Asset Management Inc. grew its holdings in Paymentus by 155.1% during the 3rd 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 last quarter. TimesSquare Capital Management LLC acquired a new stake in Paymentus during the 4th quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus during the 3rd quarter valued at $43,000. Finally, R Squared Ltd purchased a new position in shares of Paymentus during the 4th quarter worth $43,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.