Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report)'s share price fell 4.7% during mid-day trading on Friday following insider selling activity. The stock traded as low as $35.28 and last traded at $35.40. 287,508 shares changed hands during trading, an increase of 8% from the average session volume of 266,373 shares. The stock had previously closed at $37.15.
Specifically, General Counsel Andrew A. Gerber sold 34,272 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total value of $1,280,401.92. Following the transaction, the general counsel now owns 97,925 shares of the company's stock, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Analyst Ratings Changes
PAY has been the subject of a number of research reports. Canaccord Genuity Group cut shares of Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Robert W. Baird lifted their target price on Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price target on Paymentus from $21.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price objective on Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $28.80.
Read Our Latest Report on Paymentus
Paymentus Stock Performance
The company has a market capitalization of $4.31 billion, a PE ratio of 111.65 and a beta of 1.63. The stock has a fifty day moving average of $28.39 and a 200 day moving average of $23.17.
Hedge Funds Weigh In On Paymentus
Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC boosted its stake in Paymentus by 550.0% during 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 during the last quarter. MCF Advisors LLC raised its holdings in shares of Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider's stock worth $28,000 after acquiring an additional 650 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock valued at $34,000 after acquiring an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Paymentus in the third quarter valued at $43,000. Finally, Arcadia Investment Management Corp MI increased its position in Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider's stock worth $45,000 after purchasing an additional 1,381 shares during the last quarter. Hedge funds and other institutional investors own 12.55% of the company's stock.
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.
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