Paymentus Holdings, Inc. (NYSE:PAY) CFO Sells $505,250.06 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 15,794 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link.

Paymentus Stock Performance

Shares of PAY stock traded up $0.37 during trading hours on Wednesday, reaching $32.57. The company had a trading volume of 443,764 shares, compared to its average volume of 385,043. The company has a market capitalization of $4.06 billion, a P/E ratio of 105.08 and a beta of 1.66. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $38.94. The stock’s fifty day simple moving average is $32.17 and its 200 day simple moving average is $27.88.

Institutional Trading of Paymentus

Several large investors have recently bought and sold shares of PAY. Capital International Investors boosted its stake in shares of Paymentus by 25.6% in the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after purchasing an additional 888,914 shares during the period. Vanguard Group Inc. boosted its position in Paymentus by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock valued at $58,697,000 after buying an additional 273,027 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Paymentus by 23.8% during the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock valued at $28,713,000 after acquiring an additional 169,237 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Paymentus during the fourth quarter valued at about $24,568,000. Finally, Invesco Ltd. increased its position in shares of Paymentus by 246.2% during the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock worth $18,931,000 after acquiring an additional 412,095 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PAY has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Wedbush began coverage on Paymentus in a report on Monday, February 3rd. They set an “outperform” rating for the company. Robert W. Baird lifted their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lifted their price objective on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.00.

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.