Insider Selling: Paymentus Holdings, Inc. (NYSE:PAY) General Counsel Sells $98,178.60 in Stock

Paymentus Holdings, Inc. (NYSE:PAY) 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 transaction of $98,178.60. Following the sale, the general counsel now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Paymentus Trading Down 6.0 %

NYSE:PAY opened at $27.42 on Friday. The stock has a 50 day moving average of $31.89 and a two-hundred day moving average of $27.98. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.94. The firm has a market cap of $3.42 billion, a P/E ratio of 88.45 and a beta of 1.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAY. SG Americas Securities LLC purchased a new stake in Paymentus in the third quarter valued at approximately $132,000. nVerses Capital LLC raised its stake in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares in the last quarter. Better Money Decisions LLC acquired a new stake in shares of Paymentus during the 3rd quarter worth about $205,000. Versor Investments LP acquired a new stake in Paymentus during the third quarter worth approximately $331,000. Finally, GSA Capital Partners LLP lifted its position in Paymentus by 38.2% in the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after acquiring an additional 34,307 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Ratings Changes

PAY has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note 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. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wedbush began coverage on Paymentus in a research note on Monday, February 3rd. They set an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.