Paymentus (NYSE:PAY) Stock Rating Upgraded by StockNews.com

Paymentus (NYSE:PAY) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities analysts also recently issued reports on PAY. Wells Fargo & Company increased their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Robert W. Baird reduced their price target on Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. The Goldman Sachs Group set a $28.00 price objective on Paymentus and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their target price on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a research note on Wednesday, March 12th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.00.

Paymentus Stock Up 3.3 %

Shares of PAY stock opened at $34.57 on Thursday. The stock has a fifty day moving average of $28.12 and a 200 day moving average of $30.27. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 111.52 and a beta of 1.65. Paymentus has a 52 week low of $16.94 and a 52 week high of $38.94.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now owns 466,035 shares of the company’s stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after purchasing an additional 81,853 shares during the last quarter. Legal & General Group Plc raised its position in Paymentus by 40.1% in the 4th quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider’s stock worth $622,000 after purchasing an additional 5,452 shares during the period. Victory Capital Management Inc. bought a new stake in Paymentus in the fourth quarter worth about $215,000. Barclays PLC grew its stake in shares of Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after buying an additional 4,755 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Paymentus by 2.6% in the third quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider’s stock worth $4,129,000 after buying an additional 5,127 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.