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

CAB Payments Holdings Limited (LON:CABP) rose 12.1% during trading on Thursday . The company traded as high as GBX 75.70 and last traded at GBX 74. Approximately 3,116,519 shares traded hands 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 reissued 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, CAB Payments has a consensus rating of “Buy” and a consensus price target of GBX 99.

CAB Payments Stock Performance

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

Insider Activity

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