Paymentus (NYSE:PAY) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.69 and traded as high as $33.65. Paymentus shares last traded at $33.01, with a volume of 467,587 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PAY shares. Wells Fargo & Company increased their price target on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Robert W. Baird boosted their price objective on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.80.

Paymentus Stock Down 1.1 %

The firm’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $24.69. The firm has a market capitalization of $4.11 billion, a P/E ratio of 106.48 and a beta of 1.63.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’s stock in a transaction that occurred on 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 owns 97,925 shares of the company’s stock, valued at $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 87.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC raised its holdings in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after buying an additional 1,100 shares during the last quarter. MCF Advisors LLC raised its holdings in Paymentus by 80.1% in the 2nd 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. Advisors Asset Management Inc. lifted its position in Paymentus by 155.1% in the 3rd 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Paymentus in the third quarter worth $43,000. Finally, Arcadia Investment Management Corp MI lifted its holdings in shares of Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 1,381 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

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.