Sanjay Kalra Sells 15,794 Shares of Paymentus Holdings, Inc. (NYSE:PAY) 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. This trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Paymentus Trading Down 10.3 %

Shares of Paymentus stock opened at $29.23 on Friday. The stock has a fifty day simple moving average of $32.03 and a 200 day simple moving average of $27.92. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94. The company has a market capitalization of $3.64 billion, a P/E ratio of 94.28 and a beta of 1.66.

Institutional Investors Weigh In On Paymentus

Several institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its holdings in Paymentus by 25.6% during the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock worth $142,509,000 after buying an additional 888,914 shares in the last quarter. Vanguard Group Inc. boosted its position in Paymentus by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock worth $58,697,000 after purchasing an additional 273,027 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Paymentus by 23.8% in the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock worth $28,713,000 after purchasing an additional 169,237 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Paymentus in the fourth quarter worth $24,568,000. Finally, Invesco Ltd. boosted its position in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock worth $18,931,000 after purchasing an additional 412,095 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAY. Robert W. Baird boosted 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. Wells Fargo & Company boosted 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. The Goldman Sachs Group boosted 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. Wedbush began coverage on Paymentus in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Canaccord Genuity Group downgraded Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.