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

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.80.

A number of analysts have commented on the company. Robert W. Baird lifted their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price objective on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th.

Paymentus Stock Down 3.6 %

NYSE:PAY opened at $31.81 on Wednesday. Paymentus has a 52 week low of $14.77 and a 52 week high of $38.94. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 102.61 and a beta of 1.67. The company’s 50 day moving average price is $33.05 and its 200-day moving average price is $25.44.

Insider Activity at Paymentus

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the sale, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 87.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Paymentus by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after buying an additional 20,767 shares during the last quarter. State Street Corp increased its position in Paymentus by 2.6% during the 3rd quarter. State Street Corp now owns 300,414 shares of the business services provider’s stock valued at $6,014,000 after buying an additional 7,525 shares in the last quarter. Millennium Management LLC raised its stake in Paymentus by 1.1% in the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after buying an additional 3,124 shares during the last quarter. Finally, FMR LLC boosted its holdings in Paymentus by 32,191.6% in the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after acquiring an additional 227,273 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

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.