Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber Sells 3,070 Shares

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 3,070 shares of the firm’s stock in a transaction 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 completion of the sale, the general counsel now directly owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Paymentus Price Performance

Shares of PAY stock opened at $27.42 on Friday. The firm has a market cap of $3.42 billion, a P/E ratio of 88.45 and a beta of 1.66. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94. The firm has a fifty day moving average of $31.89 and a two-hundred day moving average of $27.98.

Institutional Trading of Paymentus

Several hedge funds have recently added to or reduced their stakes in the business. Capital International Investors raised its stake in shares of Paymentus by 25.6% during the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after purchasing an additional 888,914 shares in the last quarter. Vanguard Group Inc. increased its stake in Paymentus by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock valued at $58,697,000 after buying an additional 273,027 shares during the period. JPMorgan Chase & Co. raised its position in shares of Paymentus by 23.8% during the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock worth $28,713,000 after buying an additional 169,237 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter worth approximately $24,568,000. Finally, Invesco Ltd. boosted its holdings in shares of Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock valued at $18,931,000 after acquiring an additional 412,095 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PAY. Robert W. Baird increased their price target 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. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush assumed coverage on shares of Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Paymentus currently has a consensus 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.