Paymentus (NYSE:PAY) Stock Price Down 3.6% on Insider Selling

Paymentus Holdings, Inc. (NYSE:PAY)’s share price dropped 3.6% during trading on Monday after an insider sold shares in the company. The stock traded as low as $18.04 and last traded at $18.04. Approximately 21,979 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 275,049 shares. The stock had previously closed at $18.71.

Specifically, 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 directly owns 136,536 shares of the company’s stock, valued at $2,573,703.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Andrew A. Gerber sold 1,575 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the sale, the general counsel now directly owns 142,112 shares of the company’s stock, valued at approximately $2,673,126.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were 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 of the company’s stock, valued at $2,573,703.60. The disclosure for this sale can be found here. Company insiders own 87.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group upped their price target on shares of Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Monday, April 15th. Robert W. Baird lifted their price objective on shares of Paymentus from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Finally, Citigroup increased their target price on shares of Paymentus from $20.00 to $22.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.06.

Paymentus Stock Up 0.7 %

The business’s 50 day simple moving average is $19.35 and its 200 day simple moving average is $18.71. The company has a market capitalization of $2.21 billion, a PE ratio of 77.22 and a beta of 1.47.

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

Institutional Trading of Paymentus

Several hedge funds and other institutional investors have recently modified their holdings of PAY. Comerica Bank boosted its position in Paymentus by 4,713.1% during the 1st quarter. Comerica Bank now owns 20,552 shares of the business services provider’s stock worth $468,000 after acquiring an additional 20,125 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of Paymentus by 130.1% during the first quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock worth $1,575,000 after purchasing an additional 39,136 shares during the period. Vanguard Group Inc. grew its position in Paymentus by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider’s stock valued at $31,596,000 after purchasing an additional 8,457 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Paymentus in the 1st quarter valued at approximately $106,000. Finally, Sei Investments Co. purchased a new stake in Paymentus in the 1st quarter worth approximately $513,000. Institutional investors and hedge funds own 12.55% of the company’s stock.

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.