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

Paymentus (NYSE:PAY) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Other research analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. Robert W. Baird cut their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. cut their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Paymentus has a consensus rating of “Hold” and an average target price of $31.83.

Paymentus Stock Down 1.5 %

Shares of Paymentus stock opened at $27.42 on Wednesday. Paymentus has a fifty-two week low of $16.94 and a fifty-two week high of $38.94. The firm has a market cap of $3.42 billion, a PE ratio of 88.44 and a beta of 1.68. The business’s fifty day moving average is $29.65 and its two-hundred day moving average is $28.69.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now directly owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the firm’s 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 transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This trade represents 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 currently owned by corporate insiders.

Institutional Trading of Paymentus

Several large investors have recently modified their holdings of PAY. Quest Partners LLC grew its stake in shares of Paymentus by 3,809.6% during the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 20,343 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after acquiring an additional 28,628 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Paymentus during the third quarter valued at about $629,000. Finally, FMR LLC grew its stake in shares of Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock valued at $4,564,000 after acquiring an additional 227,273 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.