Paymentus (NYSE:PAY – Get 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
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
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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