Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Recommendation of “Hold” from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.00.

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

Insider Transactions at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew A. Gerber sold 34,272 shares of the business’s stock in a transaction 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 transaction, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,136 shares of company stock worth $1,883,831. Company insiders own 87.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PAY. Capital International Investors lifted its position in shares of Paymentus by 25.6% during the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after acquiring an additional 888,914 shares during the period. Driehaus Capital Management LLC acquired a new position in Paymentus during the fourth quarter worth $24,568,000. Invesco Ltd. raised its holdings in Paymentus by 246.2% during the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock worth $18,931,000 after buying an additional 412,095 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Paymentus during the fourth quarter worth $12,064,000. Finally, Adams Street Partners LLC acquired a new position in Paymentus during the fourth quarter worth $8,953,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Price Performance

PAY opened at $27.08 on Thursday. Paymentus has a fifty-two week low of $15.08 and a fifty-two week high of $38.94. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 87.36 and a beta of 1.66. The company’s 50 day moving average price is $31.42 and its two-hundred day moving average price is $28.20.

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.