Paymentus (NYSE:PAY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Paymentus (NYSE:PAY) had its price target increased by Wells Fargo & Company from $30.00 to $35.00 in a report released on Wednesday, Marketbeat reports. They currently have an equal weight rating on the business services provider’s stock.

PAY has been the subject of several other reports. The Goldman Sachs Group upped their target price on shares of Paymentus from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a report on Wednesday, March 12th. JPMorgan Chase & Co. lifted their price objective on Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird increased their target price on Paymentus from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday. Five 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Paymentus Stock Performance

Paymentus stock opened at $36.90 on Wednesday. The firm has a market capitalization of $4.61 billion, a PE ratio of 119.03 and a beta of 1.61. Paymentus has a one year low of $16.94 and a one year high of $38.94. The stock’s 50 day moving average price is $28.99 and its 200 day moving average price is $30.61.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This represents a 3.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 466,035 shares in the company, 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. 75.43% of the stock is currently owned by company insiders.

Institutional Trading of Paymentus

A number of large investors have recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in Paymentus in the 4th quarter worth about $32,000. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus during the fourth quarter worth approximately $35,000. R Squared Ltd acquired a new stake in Paymentus in the 4th quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Paymentus by 2,763.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in Paymentus during the 4th quarter worth $73,000. Institutional investors and hedge funds own 78.38% 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.