Insider Selling: Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Sells $105,107.60 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Andrew A. Gerber sold 5,576 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.85, for a total transaction of $105,107.60. Following the completion of the transaction, the general counsel now owns 136,536 shares in the company, valued at approximately $2,573,703.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Paymentus Stock Down 0.2 %

Paymentus stock opened at $17.73 on Thursday. Paymentus Holdings, Inc. has a 52-week low of $9.60 and a 52-week high of $25.21. The company has a market cap of $2.20 billion, a P/E ratio of 77.09 and a beta of 1.47. The business has a 50-day simple moving average of $19.32 and a two-hundred day simple moving average of $18.70.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, May 6th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. The company had revenue of $184.88 million for the quarter, compared to the consensus estimate of $174.75 million. Research analysts anticipate that Paymentus Holdings, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. The Goldman Sachs Group upped their price target on Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Monday, April 15th. Raymond James downgraded Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. upped their target price on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, Citigroup lifted their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Paymentus currently has an average rating of “Hold” and a consensus price target of $19.06.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank grew its holdings in Paymentus by 3.9% during the third quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 1,400 shares during the period. Clearbridge Investments LLC grew its stake in shares of Paymentus by 1.7% during the 3rd quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider’s stock valued at $12,418,000 after acquiring an additional 12,400 shares during the period. Deutsche Bank AG purchased a new stake in Paymentus in the 3rd quarter worth approximately $11,806,000. Vanguard Group Inc. raised its stake in Paymentus by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,345,935 shares of the business services provider’s stock worth $22,343,000 after acquiring an additional 29,882 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Paymentus during the fourth quarter valued at approximately $465,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

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.