Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber Sells 34,272 Shares

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 34,272 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink.

Paymentus Stock Performance

Paymentus stock opened at $37.17 on Friday. The stock has a 50-day simple moving average of $28.10 and a 200 day simple moving average of $23.02. The stock has a market capitalization of $4.63 billion, a P/E ratio of 119.90 and a beta of 1.63. Paymentus Holdings, Inc. has a 52 week low of $14.77 and a 52 week high of $38.94.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its holdings in shares of Paymentus by 38.2% during the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after buying an additional 34,307 shares in the last quarter. PDT Partners LLC boosted its stake in shares of Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after purchasing an additional 13,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Paymentus by 196.9% during 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 buying an additional 28,628 shares during the last quarter. Versor Investments LP bought a new stake in shares of Paymentus during the third quarter worth $331,000. Finally, Quest Partners LLC grew 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 worth $418,000 after buying an additional 20,343 shares during the last quarter. 12.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PAY shares. The Goldman Sachs Group boosted their target price on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Robert W. Baird boosted their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Seven 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.80.

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.