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 the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares of the company’s stock, 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 Stock Down 10.3 %

Shares of NYSE PAY opened at $29.23 on Friday. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.94. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 94.28 and a beta of 1.66. The business has a fifty day simple moving average of $32.03 and a 200-day simple moving average of $27.92.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Paymentus

Hedge funds have recently modified their holdings of the stock. 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 valued at $2,486,000 after purchasing an additional 34,307 shares during the last quarter. JPMorgan Chase & Co. raised its position in Paymentus by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after buying an additional 81,853 shares during the period. Cerity Partners LLC purchased a new stake in Paymentus in the 3rd quarter worth about $629,000. PDT Partners LLC lifted its stake in 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 acquiring an additional 13,621 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paymentus by 196.9% in 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 acquiring an additional 28,628 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.