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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Hold” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $30.00.

Several equities analysts have recently weighed in on PAY shares. Robert W. Baird increased their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wedbush initiated coverage on shares of Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating on the stock.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated 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 $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,136 shares of company stock worth $1,883,831 over the last ninety days. Corporate insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Hedge funds have recently made changes to their positions in the stock. TimesSquare Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter valued at approximately $35,000. nVerses Capital LLC boosted its position in Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after buying an additional 1,100 shares during the period. R Squared Ltd acquired a new stake in Paymentus during the 4th quarter worth approximately $43,000. Advisors Asset Management Inc. boosted its position 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 worth $34,000 after buying an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus during the 3rd quarter worth approximately $43,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Price Performance

Shares of PAY stock opened at $32.57 on Thursday. The stock has a market cap of $4.06 billion, a P/E ratio of 105.08 and a beta of 1.66. The company has a fifty day moving average price of $32.15 and a two-hundred day moving average price of $27.91. Paymentus has a one year low of $14.77 and a one year high of $38.94.

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.