Insider Selling: Paymentus Holdings, Inc. (NYSE:PAY) Director Sells 11,409 Shares of Stock

Paymentus Holdings, Inc. (NYSE:PAY) Director William Ingram sold 11,409 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the transaction, the director now owns 73,963 shares in the company, valued at approximately $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Paymentus Stock Performance

PAY stock opened at $38.63 on Friday. The company’s 50-day simple moving average is $29.98 and its 200 day simple moving average is $30.99. Paymentus Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $38.94. The company has a market capitalization of $4.83 billion, a PE ratio of 124.61 and a beta of 1.61.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PAY shares. The Goldman Sachs Group boosted their target price on shares of Paymentus from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Wedbush set a $40.00 price objective on shares of Paymentus and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company increased their price objective on shares of Paymentus from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Hedge Funds Weigh In On Paymentus

Several institutional investors and hedge funds have recently modified their holdings of PAY. Park Square Financial Group LLC acquired a new position in shares of Paymentus in the fourth quarter valued at about $32,000. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus in the fourth quarter valued at about $35,000. AlphaQuest LLC grew its stake in shares of Paymentus by 152,600.0% in the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 1,526 shares in the last quarter. R Squared Ltd acquired a new position in shares of Paymentus in the fourth quarter valued at about $43,000. Finally, Summit Securities Group LLC acquired a new position in shares of Paymentus in the first quarter valued at about $47,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.