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 Paymentus stock in a transaction dated 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 owns 466,035 shares of the company’s stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Paymentus Stock Down 6.0 %

PAY opened at $27.42 on Friday. The firm 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 52 week low of $14.77 and a 52 week high of $38.94. The business’s 50 day moving average is $31.89 and its two-hundred day moving average is $27.98.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PAY shares. Robert W. Baird boosted their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. 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 note on Friday, November 15th. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Wedbush started coverage on Paymentus in a research note on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Wells Fargo & Company boosted their target price on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PAY. SG Americas Securities LLC acquired a new position in Paymentus during the third quarter worth approximately $132,000. nVerses Capital LLC increased its holdings in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,100 shares during the period. Better Money Decisions LLC acquired a new position in shares of Paymentus in the third quarter valued at approximately $205,000. Versor Investments LP acquired a new position in shares of Paymentus in the third quarter valued at approximately $331,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Paymentus by 38.2% in 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 period. Institutional investors and hedge funds 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.