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 company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Paymentus Stock Performance

Shares of Paymentus stock traded up $0.37 on Wednesday, reaching $32.57. 443,764 shares of the company were exchanged, compared to its average volume of 385,043. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 105.08 and a beta of 1.66. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94. The company’s 50-day moving average is $32.17 and its two-hundred day moving average is $27.88.

Institutional Investors Weigh In On Paymentus

Large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its position in shares of Paymentus by 38.2% during the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after buying an additional 34,307 shares during the period. JPMorgan Chase & Co. boosted its position in Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after acquiring an additional 81,853 shares during the period. Cerity Partners LLC bought a new position in shares of Paymentus in the third quarter worth $629,000. PDT Partners LLC grew its stake in shares of Paymentus by 39.4% in the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after purchasing an additional 13,621 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 28,628 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.