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

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 sale, the general counsel now directly owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paymentus Price Performance

NYSE:PAY opened at $32.57 on Thursday. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.94. The stock’s fifty day moving average price is $32.15 and its two-hundred day moving average price is $27.91. The company has a market cap of $4.06 billion, a P/E ratio of 105.08 and a beta of 1.66.

Institutional Trading of Paymentus

A number of institutional investors have recently added to or reduced their stakes in PAY. Capital International Investors grew its holdings in Paymentus by 25.6% during the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after buying an additional 888,914 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Paymentus in the fourth quarter valued at approximately $24,568,000. Invesco Ltd. grew its stake in Paymentus by 246.2% during 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. Price T Rowe Associates Inc. MD purchased a new position in Paymentus during the fourth quarter valued at approximately $12,064,000. Finally, Adams Street Partners LLC bought a new stake in Paymentus during the 4th quarter worth approximately $8,953,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PAY. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wedbush began coverage on shares of Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating for the company. The Goldman Sachs Group lifted their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company increased 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, Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.00.

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.