Paymentus (NYSE:PAY) Stock Price Down 4.1% – Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY) dropped 4.1% during mid-day trading on Monday . The stock traded as low as $33.56 and last traded at $33.56. Approximately 78,974 shares traded hands during trading, a decline of 82% from the average daily volume of 443,048 shares. The stock had previously closed at $35.00.

Analyst Ratings Changes

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

Paymentus Trading Down 0.5 %

The company has a market cap of $3.95 billion, a P/E ratio of 102.29 and a beta of 1.67. The company has a 50-day simple moving average of $33.05 and a 200 day simple moving average of $25.44.

Insiders Place Their Bets

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 87.76% of the company’s stock.

Hedge Funds Weigh In On Paymentus

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Paymentus by 32,191.6% in the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after buying an additional 227,273 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Paymentus by 13.0% in the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after acquiring an additional 81,853 shares in the last quarter. Main Management ETF Advisors LLC purchased a new position in Paymentus in the third quarter worth $839,000. GSA Capital Partners LLP increased its position in shares of Paymentus by 38.2% during the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 34,307 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Paymentus during the 3rd quarter valued at $629,000. 78.38% of the stock is currently owned by 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.