Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Sells $98,178.60 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the sale, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Paymentus Price Performance

Shares of Paymentus stock traded up $0.37 during trading hours on Wednesday, reaching $32.57. The company’s stock had a trading volume of 443,764 shares, compared to its average volume of 385,043. The firm has a 50 day moving average price of $32.17 and a 200-day moving average price of $27.88. The stock has a market cap of $4.06 billion, a P/E ratio of 105.08 and a beta of 1.66. Paymentus Holdings, Inc. has a one year low of $14.77 and a one year high of $38.94.

Wall Street Analysts Forecast Growth

PAY has been the topic of several recent analyst reports. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target 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 set an “outperform” rating for the company. Robert W. Baird lifted their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their target price on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Paymentus presently has an average rating of “Hold” and a consensus target price of $30.00.

Institutional Investors Weigh In On Paymentus

Several hedge funds and other institutional investors have recently made changes to their positions in PAY. TimesSquare Capital Management LLC bought a new position in Paymentus during the 4th quarter valued at about $35,000. nVerses Capital LLC increased its stake in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the period. R Squared Ltd bought a new stake in shares of Paymentus during the fourth quarter worth $43,000. Advisors Asset Management Inc. boosted its stake in shares of Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Paymentus in the third quarter worth about $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.