Paymentus (NYSE:PAY) PT Raised to $23.50

Paymentus (NYSE:PAYGet Free Report) had its target price boosted by research analysts at The Goldman Sachs Group from $21.00 to $23.50 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 5.76% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird increased their price objective on Paymentus from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup increased their price target on shares of Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Wells Fargo & Company boosted their price target on Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Paymentus currently has an average rating of “Moderate Buy” and an average price target of $19.31.

Check Out Our Latest Stock Analysis on PAY

Paymentus Price Performance

Shares of NYSE PAY traded up $2.71 during trading hours on Friday, hitting $22.22. 352,246 shares of the company’s stock were exchanged, compared to its average volume of 136,785. The company’s 50-day moving average price is $19.50 and its 200-day moving average price is $19.23. Paymentus has a 1-year low of $12.98 and a 1-year high of $25.21. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 96.61 and a beta of 1.47.

Insider Buying and Selling

In other news, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.85, for a total value of $105,107.60. Following the sale, the general counsel now owns 136,536 shares in the company, valued at approximately $2,573,703.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paymentus news, General Counsel Andrew A. Gerber sold 1,575 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.81, for a total value of $29,625.75. Following the transaction, the general counsel now owns 142,112 shares of the company’s stock, valued at $2,673,126.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.85, for a total value of $105,107.60. Following the sale, the general counsel now owns 136,536 shares in the company, valued at approximately $2,573,703.60. The disclosure for this sale can be found here. 87.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently added to or reduced their stakes in PAY. MCF Advisors LLC raised its stake in shares of Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after acquiring an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI lifted its holdings in Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after buying an additional 1,381 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Paymentus in the 4th quarter valued at $45,000. Russell Investments Group Ltd. bought a new position in Paymentus in the 1st quarter valued at $106,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Paymentus by 2,948.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after buying an additional 4,629 shares during the period. Institutional investors own 12.55% of the company’s stock.

Paymentus Company Profile

(Get Free Report)

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.

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