Paymentus (NYSE:PAY) CFO Sells $117,087.25 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 2,909 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.25, for a total value of $117,087.25. Following the sale, the chief financial officer owned 505,597 shares of the company’s stock, valued at $20,350,279.25. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Sanjay Kalra also recently made the following trade(s):

• On Tuesday, August 4th, Sanjay Kalra sold 25,000 shares of Paymentus stock. The shares were sold at an average price of $41.21, for a total value of $1,030,250.00.

Paymentus Stock Performance

Shares of NYSE PAY traded up $0.08 during mid-day trading on Thursday, reaching $40.08. The company had a trading volume of 814,796 shares, compared to its average volume of 1,280,175. The stock has a fifty day moving average of $26.83 and a two-hundred day moving average of $26.10. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 60.72 and a beta of 1.29. Paymentus Holdings, Inc. has a 12-month low of $20.11 and a 12-month high of $45.31.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The firm had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue was up 28.8% on a year-over-year basis. Sell-side analysts forecast that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on PAY shares. Wedbush boosted their target price on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group increased their price objective on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday. Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Paymentus in a research note on Tuesday. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Robert W. Baird raised their price target on shares of Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP boosted its holdings in shares of Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after buying an additional 3,859,056 shares during the period. Invesco Ltd. lifted its position in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after acquiring an additional 2,032,819 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Paymentus during the 4th quarter worth $60,452,000. Brown Brothers Harriman & Co. boosted its holdings in Paymentus by 148.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock valued at $49,931,000 after acquiring an additional 943,244 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Paymentus by 20.7% during the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock valued at $138,740,000 after acquiring an additional 753,281 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.