Insider Selling: Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Sells 34,272 Shares of Stock

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Paymentus Trading Down 0.4 %

Shares of NYSE:PAY traded down $0.14 during midday trading on Thursday, hitting $37.17. 222,925 shares of the stock were exchanged, compared to its average volume of 266,452. The stock has a market cap of $4.63 billion, a P/E ratio of 120.35 and a beta of 1.63. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $38.94. The company has a 50 day moving average price of $27.76 and a 200-day moving average price of $22.93.

Wall Street Analysts Forecast Growth

PAY has been the subject of several recent analyst reports. Wells Fargo & Company raised 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. Robert W. Baird raised their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their price target on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.80.

Institutional Trading of Paymentus

Institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP increased its stake 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 worth $2,486,000 after purchasing an additional 34,307 shares in the last quarter. PDT Partners LLC increased its position in Paymentus by 39.4% during the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after buying an additional 13,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Paymentus by 196.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after acquiring an additional 28,628 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Paymentus in the third quarter valued at $331,000. Finally, Quest Partners LLC boosted its stake in shares of Paymentus by 3,809.6% during the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 20,343 shares during the last quarter. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.