Wedbush Begins Coverage on Paymentus (NYSE:PAY)

Research analysts at Wedbush initiated coverage on shares of Paymentus (NYSE:PAY) in a report released on Monday. The firm set an “outperform” rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on PAY. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. 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 report on Thursday, January 16th. Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group raised their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.00.

Paymentus Trading Down 0.2 %

NYSE:PAY traded down $0.06 during trading hours on Monday, hitting $31.91. The company had a trading volume of 87,494 shares, compared to its average volume of 434,599. The company has a 50-day moving average of $33.39 and a 200 day moving average of $26.93. The company has a market cap of $3.98 billion, a P/E ratio of 102.80 and a beta of 1.67. Paymentus has a 1 year low of $14.77 and a 1 year high of $38.94.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the transaction, the general counsel now owns 97,925 shares of the company’s stock, valued at $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 87.76% of the stock is owned by corporate insiders.

Institutional Trading of Paymentus

A number of institutional investors have recently modified their holdings of the business. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus in the fourth quarter valued at approximately $35,000. D.A. Davidson & CO. acquired a new position in shares of Paymentus in the fourth quarter worth $328,000. Entropy Technologies LP acquired a new position in shares of Paymentus in the fourth quarter worth $337,000. R Squared Ltd acquired a new position in shares of Paymentus in the fourth quarter worth $43,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in shares of Paymentus in the fourth quarter worth $963,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.