Analysts Set Paymentus Holdings, Inc. (NYSE:PAY) Price Target at $28.80

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have received an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $28.80.

PAY has been the subject of several recent research reports. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price objective on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th.

Paymentus Trading Up 7.2 %

Shares of Paymentus stock opened at $35.00 on Wednesday. Paymentus has a 52 week low of $14.77 and a 52 week high of $38.94. The company’s 50-day moving average price is $32.74 and its two-hundred day moving average price is $25.26. The stock has a market cap of $4.36 billion, a PE ratio of 112.90 and a beta of 1.67.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the sale, the general counsel now directly owns 97,925 shares of the company’s stock, valued at $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 87.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC increased its stake in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares during the last quarter. MCF Advisors LLC increased its position in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Paymentus during the 3rd quarter valued at about $43,000. Finally, Arcadia Investment Management Corp MI grew its stake in shares of Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares in the last quarter. Hedge funds and other institutional investors 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.