Paymentus (NYSE:PAY) Price Target Lowered to $30.00 at Robert W. Baird

Paymentus (NYSE:PAY) had its target price decreased by Robert W. Baird from $36.00 to $30.00 in a research note published on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

PAY has been the subject of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a research report on Wednesday, March 12th. Wells Fargo & Company upped their target price on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.83.

Paymentus Trading Down 5.4 %

PAY stock opened at $24.17 on Friday. The firm has a market cap of $3.02 billion, a PE ratio of 77.97 and a beta of 1.65. Paymentus has a 1 year low of $16.94 and a 1 year high of $38.94. The company has a fifty day simple moving average of $28.85 and a 200 day simple moving average of $29.12.

Insider Transactions at Paymentus

In related 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 value of $505,250.06. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Paymentus

Hedge funds have recently modified their holdings of the company. Park Square Financial Group LLC acquired a new position in shares of Paymentus in the fourth quarter valued at $32,000. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Paymentus during the 3rd quarter worth about $43,000. R Squared Ltd acquired a new stake in shares of Paymentus during the 4th quarter valued at about $43,000. Finally, Deutsche Bank AG bought a new stake in Paymentus in the fourth quarter valued at about $73,000. 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.