Insider Selling: Paymentus Holdings, Inc. (NYSE:PAY) CFO Sells 15,794 Shares of Stock

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Paymentus Stock Down 10.3 %

Shares of NYSE PAY opened at $29.23 on Friday. The firm has a market capitalization of $3.64 billion, a P/E ratio of 94.28 and a beta of 1.66. The stock’s 50-day simple moving average is $32.03 and its two-hundred day simple moving average is $27.92. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $38.94.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wedbush initiated coverage on Paymentus in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Robert W. Baird increased their price objective on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price objective on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.00.

Hedge Funds Weigh In On Paymentus

A number of institutional investors have recently added to or reduced their stakes in PAY. SG Americas Securities LLC bought a new position in Paymentus in the 3rd quarter worth about $132,000. nVerses Capital LLC increased its position in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,100 shares during the last quarter. Better Money Decisions LLC bought a new position in shares of Paymentus during the 3rd quarter valued at about $205,000. Versor Investments LP bought a new position in shares of Paymentus during the 3rd quarter valued at about $331,000. Finally, GSA Capital Partners LLP increased its position in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after purchasing an additional 34,307 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Company Profile

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.