Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) General Counsel Andrew A. Gerber sold 3,070 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Paymentus Stock Up 1.2 %
Shares of NYSE:PAY opened at $32.57 on Thursday. The stock has a market cap of $4.06 billion, a PE ratio of 105.08 and a beta of 1.66. The company's fifty day moving average is $32.15 and its 200 day moving average is $27.91. Paymentus Holdings, Inc. has a 52 week low of $14.77 and a 52 week high of $38.94.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of PAY. Capital International Investors boosted 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 acquiring an additional 888,914 shares during the period. Vanguard Group Inc. lifted 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 valued at $58,697,000 after purchasing an additional 273,027 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Paymentus by 23.8% during the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock valued at $28,713,000 after purchasing an additional 169,237 shares during the period. Driehaus Capital Management LLC bought a new position in shares of Paymentus in the fourth quarter worth approximately $24,568,000. Finally, Invesco Ltd. increased its stake 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 worth $18,931,000 after buying an additional 412,095 shares during the period. 78.38% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on PAY. The Goldman Sachs Group raised their target price on shares of Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Robert W. Baird raised their price objective 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 increased their target price on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, Wedbush assumed coverage on Paymentus in a research note on Monday, February 3rd. They set an "outperform" rating for the company. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $30.00.
Check Out Our Latest Analysis on Paymentus
About Paymentus
(
Get Free Report)
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.
Further Reading
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