Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Sells $105,107.60 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 5,576 shares of Paymentus stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.85, for a total value of $105,107.60. Following the transaction, the general counsel now directly owns 136,536 shares of the company’s stock, valued at $2,573,703.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Paymentus Stock Performance

Shares of NYSE:PAY opened at $17.76 on Wednesday. Paymentus Holdings, Inc. has a twelve month low of $9.60 and a twelve month high of $25.21. The firm has a market cap of $2.21 billion, a PE ratio of 77.22 and a beta of 1.47. The business has a fifty day moving average of $19.35 and a 200-day moving average of $18.71.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, May 6th. The business services provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $184.88 million during the quarter, compared to analyst estimates of $174.75 million. Paymentus had a return on equity of 8.74% and a net margin of 4.43%. On average, analysts anticipate that Paymentus Holdings, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Paymentus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Paymentus in the fourth quarter worth about $45,000. Russell Investments Group Ltd. acquired a new stake in Paymentus in the first quarter worth about $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Paymentus by 2,948.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,629 shares during the period. RiverPark Advisors LLC acquired a new stake in Paymentus in the first quarter worth about $136,000. Finally, Trexquant Investment LP acquired a new stake in Paymentus in the fourth quarter worth about $254,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAY. Wells Fargo & Company lifted their price objective on Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Robert W. Baird lifted their price objective on Paymentus from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. The Goldman Sachs Group lifted their price objective on Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Monday, April 15th. Citigroup raised their target price on Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.06.

About Paymentus

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.