Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber Sells 3,070 Shares

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 3,070 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paymentus Stock Performance

Shares of PAY stock traded up $0.37 during mid-day trading on Wednesday, reaching $32.57. 443,764 shares of the company’s stock traded hands, compared to its average volume of 385,043. The firm has a market capitalization of $4.06 billion, a PE ratio of 105.08 and a beta of 1.66. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.94. The firm has a 50 day moving average price of $32.17 and a two-hundred day moving average price of $27.88.

Analyst Upgrades and Downgrades

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

Institutional Trading of Paymentus

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

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.