Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Rating of “Hold” by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has been given an average recommendation of “Hold” by the eight research firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $30.00.

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Robert W. Baird upped their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Paymentus Price Performance

Paymentus stock opened at $30.42 on Friday. The firm has a market cap of $3.79 billion, a PE ratio of 98.11 and a beta of 1.67. The stock’s fifty day moving average price is $33.87 and its two-hundred day moving average price is $26.48. Paymentus has a one year low of $14.77 and a one year high of $38.94.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. This trade represents a 25.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 87.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Paymentus by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after purchasing an additional 20,767 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Paymentus by 8.5% during the second quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after acquiring an additional 10,729 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Paymentus during the second quarter worth about $233,000. Millennium Management LLC lifted its stake in shares of Paymentus by 1.1% in the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after acquiring an additional 3,124 shares during the period. Finally, Algert Global LLC boosted its holdings in Paymentus by 3.2% in the second quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after acquiring an additional 4,216 shares during the last quarter. 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.