Paymentus Holdings, Inc. (NYSE:PAY) CFO Sells $505,250.06 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Paymentus Stock Performance

PAY opened at $27.42 on Friday. The business’s fifty day moving average is $31.89 and its two-hundred day moving average is $27.98. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 88.45 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.

Institutional Trading of Paymentus

Institutional investors have recently bought and sold shares of the company. nVerses Capital LLC boosted its position in Paymentus by 550.0% during 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 in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus in the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Paymentus in the third quarter valued at $43,000. Finally, R Squared Ltd purchased a new stake in shares of Paymentus in the fourth quarter valued at $43,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.