Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Sells $1,280,401.92 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 34,272 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the transaction, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. This represents a 25.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Paymentus Trading Down 0.4 %

Shares of NYSE PAY opened at $37.17 on Friday. The firm has a 50 day moving average of $28.10 and a 200 day moving average of $23.02. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 119.90 and a beta of 1.63. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PAY shares. The Goldman Sachs Group upped their target price on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Robert W. Baird raised their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company increased their target price on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Paymentus has an average rating of “Hold” and a consensus price target of $28.80.

Institutional Trading of Paymentus

A number of hedge funds and other institutional investors have recently modified their holdings of PAY. nVerses Capital LLC lifted its position in Paymentus by 550.0% during the third 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. MCF Advisors LLC increased its stake in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares during the period. Advisors Asset Management Inc. increased its stake in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after buying an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Paymentus in the 3rd quarter worth about $43,000. Finally, Arcadia Investment Management Corp MI increased its holdings in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares during the period. 12.55% of the stock is owned by hedge funds and other 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.