CAB Payments (LON:CABP) Trading 12.1% Higher – What’s Next?

CAB Payments Holdings Limited (LON:CABP)’s share price was up 12.1% during mid-day trading on Thursday . The company traded as high as GBX 75.93 and last traded at GBX 74. Approximately 3,116,519 shares changed hands during trading, an increase of 415% from the average daily volume of 605,161 shares. The stock had previously closed at GBX 66.

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a “house stock” rating on shares of CAB Payments in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 99.

CAB Payments Stock Performance

The firm’s 50-day moving average price is GBX 57.79 and its two-hundred day moving average price is GBX 53.02. The stock has a market cap of £187.86 million and a price-to-earnings ratio of 25.52.

Insider Buying and Selling at CAB Payments

In other news, insider Kushagra (‘Kush’) Saxena purchased 97,861 shares of CAB Payments stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average price of GBX 51 per share, with a total value of £49,909.11. 1.17% of the stock is currently owned by company insiders.

About CAB Payments

CAB Payments Holdings plc and its subsidiaries (CAB Payments) is a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets. CAB Payments uses its strength of network, technology, and expertise to seamlessly move money where it’s needed and is the holding company for Crown Agents Bank, a UK-regulated bank.