Gary Trainor Sells 40,000 Shares of Paymentus (NYSE:PAY) Stock

Paymentus Holdings, Inc. (NYSE:PAY) Director Gary Trainor sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $33.12, for a total transaction of $1,324,800.00. Following the completion of the sale, the director directly owned 629,888 shares of the company’s stock, valued at $20,861,890.56. The trade was a 5.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Paymentus Trading Down 2.1%

Paymentus stock opened at $34.13 on Friday. The stock has a 50 day moving average of $25.52 and a two-hundred day moving average of $25.84. Paymentus Holdings, Inc. has a twelve month low of $20.11 and a twelve month high of $39.38. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 59.88 and a beta of 1.31.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities analysts predict that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. increased its holdings in shares of Paymentus by 0.7% in the 2nd quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider’s stock valued at $1,834,000 after purchasing an additional 413 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Paymentus by 7.2% during the first quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock worth $253,000 after buying an additional 665 shares in the last quarter. Hamilton Lane Advisors LLC boosted its holdings in Paymentus by 7.8% during the fourth quarter. Hamilton Lane Advisors LLC now owns 9,303 shares of the business services provider’s stock worth $294,000 after buying an additional 676 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Paymentus by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after buying an additional 683 shares in the last quarter. Finally, LVZ Inc. grew its position in Paymentus by 5.5% during the first quarter. LVZ Inc. now owns 13,760 shares of the business services provider’s stock worth $350,000 after buying an additional 713 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of recent analyst reports. Robert W. Baird downgraded shares of Paymentus from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Thursday. Wedbush boosted their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Paymentus has an average rating of “Moderate Buy” and a consensus target price of $35.20.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.