Sanjay Kalra Sells 25,000 Shares of Paymentus (NYSE:PAY) Stock

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 25,000 shares of Paymentus stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00. Following the completion of the transaction, the chief financial officer directly owned 508,506 shares in the company, valued at approximately $20,955,532.26. This represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sanjay Kalra also recently made the following trade(s):

• On Wednesday, August 5th, Sanjay Kalra sold 2,909 shares of Paymentus stock. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25.

Paymentus Stock Up 0.2%

Paymentus stock traded up $0.08 during mid-day trading on Thursday, hitting $40.08. 814,796 shares of the stock were exchanged, compared to its average volume of 1,280,175. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 60.72 and a beta of 1.29. Paymentus Holdings, Inc. has a 12 month low of $20.11 and a 12 month high of $45.31. The firm’s fifty day simple moving average is $26.83 and its two-hundred day simple moving average is $26.10.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The company had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. During the same period in the prior year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, analysts forecast that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paymentus

Hedge funds have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in Paymentus in the first quarter valued at approximately $41,000. Blue Trust Inc. lifted its holdings in shares of Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Paymentus during the 4th quarter valued at $80,000. Orange County Employees Retirement System acquired a new position in Paymentus during the fourth quarter worth $150,000. Finally, Advisors Asset Management Inc. raised its holdings in Paymentus by 26.0% during the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after buying an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PAY shares. Robert W. Baird lifted their price objective on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group lifted their target price on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday. Wolfe Research reissued an “outperform” rating and issued a $44.00 price target on shares of Paymentus in a research note on Tuesday. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Wedbush lifted their price objective on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Paymentus presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Paymentus Company Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.