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

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 15,794 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Paymentus Trading Up 1.2 %

Shares of PAY opened at $32.57 on Thursday. The firm has a fifty day moving average price of $32.15 and a 200-day moving average price of $27.91. The firm has a market capitalization of $4.06 billion, a P/E ratio of 105.08 and a beta of 1.66. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94.

Wall Street Analysts Forecast Growth

PAY has been the topic of several analyst reports. Wedbush assumed coverage on Paymentus in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. The Goldman Sachs Group increased their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Robert W. Baird boosted their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Institutional Investors Weigh In On Paymentus

Several large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP raised its stake 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 valued at $2,486,000 after acquiring an additional 34,307 shares in the last quarter. JPMorgan Chase & Co. raised its position in Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Paymentus in the 3rd quarter worth $629,000. PDT Partners LLC lifted its holdings 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 worth $964,000 after buying an additional 13,621 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Paymentus by 196.9% during the 3rd 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 in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.