The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Paymentus Holdings Inc. shares valued at $8,481,600 were sold by Trainor Gary on Jun 09. At $13.68 per share, Trainor Gary sold 620,000 shares. The insider’s holdings dropped to 669,888 shares worth approximately $8.69 million following the completion of this transaction.
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Also, Parson Matt sold 228 shares, netting a total of over 3,374 in proceeds. Following the sale of shares at $14.80 each, the insider now holds 8,698 shares.
Before that, Sharma Dushyant had added 1 shares to its account. In a trade valued at $24, the Chairman, President and CEO bought Paymentus Holdings Inc. shares for $23.86 each. Upon closing the transaction, the insider’s holdings increased to 1 shares, worth approximately $12.97.
As published in a research note from Goldman on August 04, 2022, Paymentus Holdings Inc. [PAY] has been rated down from a Buy to a Neutral and the price target has been revised to $16 from $19. This represents a 18.94% premium over Thursday’s closing price. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of January 31, 2022, SMBC Nikko has increased its “Neutral” rating to a “an Outperform” for PAY. Earlier on December 10, 2021, Goldman initiated its rating. Their recommendation was “a Buy” for PAY stock.
Analyzing PAY’s Price Performance
On Thursday, Paymentus Holdings Inc. [NYSE: PAY] plunged -28.38% to $12.97. The stock’s lowest price that day was $12.71, but it reached a high of $14.96 in the same session. During the last five days, there has been a drop of approximately -11.47%. Over the course of the year, Paymentus Holdings Inc. shares have dropped approximately -62.92%. Shares of the company reached a 52-week high of $35.00 on 01/03/22 and a 52-week low of $11.57 on 05/12/22. A 50-day SMA is recorded $14.16, while a 200-day SMA reached $21.63. Nevertheless, trading volume fell to 2.07 million shares from 0.24 million shares the previous day.
Support And Resistance Levels for Paymentus Holdings Inc. (PAY)
According to the 24-hour chart, there is a support level at 12.13, which, if violated, would cause prices to drop to 11.30. In the upper region, resistance lies at 14.38. The next price resistance is at 15.80. RSI (Relative Strength Index) is 43.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.39, which suggests the price will increase in the coming days. Percent R is at 95.31%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Paymentus Holdings Inc. subject to short interest?
Stocks of Paymentus Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 100000.0 shares to 2.48 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.38 million shares. A jump of 4.03% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 26.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 26.12.
Which companies own the most shares of Paymentus Holdings Inc. (PAY)?
According to Capital Research & Management Co filings, the company currently owns 2,127,911 shares, which is about 11.80% of the total PAY shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 2127911.0 shares. With the completion of the buy transaction, Franklin Advisers, Inc.’s stake is now worth $26,570,081. Capital Research & Management Co acquire a 43.23% interest valued at $21.89 million while Fidelity Management & Research Co purchased a 795,874 stake. A total of 16,924 shares of Paymentus Holdings Inc. were bought by The Vanguard Group, Inc. during the quarter, and 51,333 were bought by Victory Capital Management, Inc. In its current portfolio, Frontier Capital Management Co. L holds 819,569 shares valued at $10.96 million.
In terms of Paymentus Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $20.11 in the next 12 months, up nearly 10.44% from the previous closing price of $18.11. Analysts anticipate Paymentus Holdings Inc. stock to reach $25.00 by 2022, with the lowest price target being $18.00. In spite of this, 9 analysts ranked Paymentus Holdings Inc. stock as an Overweight at the end of 2022. On November 03, 2021, SMBC Nikko assigned a price target of “an Outperform” to the stock and initiated coverage with a $29.