CAB Payments (LON:CABP) Trading 12.1% Higher – Should You Buy?

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 75.70 and last traded at GBX 74. Approximately 3,116,519 shares changed hands during mid-day trading, an increase of 415% from the average daily volume of 605,161 shares. The stock had previously closed at GBX 66.

Analysts Set New Price Targets

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

CAB Payments Price Performance

The company has a fifty day moving average price of GBX 57.79 and a 200 day moving average price of GBX 53.02. The company has a market cap of £187.86 million and a PE ratio of 25.52.

Insider Buying and Selling

In related news, insider Kushagra (‘Kush’) Saxena purchased 97,861 shares of the firm’s 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 corporate 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.