CAB Payments (LON:CABP) Trading Up 12.1% – Here’s Why

Shares of CAB Payments Holdings Limited (LON:CABP) were up 12.1% during trading on Thursday . The stock traded as high as GBX 75.70 and last traded at GBX 74. Approximately 3,116,519 shares were traded during 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 restated a “house stock” rating on shares of CAB Payments in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, CAB Payments currently has an average rating of “Buy” and an average target price of GBX 99.

CAB Payments Trading Up 12.1%

The stock has a fifty day simple moving average of GBX 58.25 and a 200-day simple moving average of GBX 53.16. The stock has a market cap of £187.86 million and a price-to-earnings ratio of 25.52.

Insider Activity

In related news, insider Kushagra (‘Kush’) Saxena acquired 97,861 shares of the stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of GBX 51 per share, for a total transaction of £49,909.11. Insiders own 1.17% of the company’s stock.

CAB Payments Company Profile

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.