Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra Sells 15,794 Shares

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paymentus Stock Performance

Shares of PAY stock opened at $32.57 on Thursday. The stock has a fifty day simple moving average of $32.15 and a two-hundred day simple moving average of $27.91. Paymentus Holdings, Inc. has a 52-week low of $14.77 and a 52-week high of $38.94. The firm has a market capitalization of $4.06 billion, a PE ratio of 105.08 and a beta of 1.66.

Institutional Trading of Paymentus

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAY. Capital International Investors grew its holdings in 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. grew its stake in Paymentus by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock valued at $58,697,000 after acquiring an additional 273,027 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Paymentus by 23.8% in the 4th 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 during the last quarter. Driehaus Capital Management LLC purchased a new stake in Paymentus in the 4th quarter worth $24,568,000. Finally, Invesco Ltd. grew 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 valued at $18,931,000 after purchasing an additional 412,095 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wedbush started coverage on shares of Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price objective on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.