Paymentus (NYSE:PAY) Director Gary Trainor Sells 80,000 Shares of Stock

Paymentus Holdings, Inc. (NYSE:PAY) Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total value of $3,263,200.00. Following the completion of the transaction, the director owned 509,888 shares in the company, valued at $20,798,331.52. The trade was a 13.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gary Trainor also recently made the following trade(s):

• On Tuesday, July 28th, Gary Trainor sold 40,000 shares of Paymentus stock. The shares were sold at an average price of $33.12, for a total value of $1,324,800.00.

Paymentus Trading Up 0.2%

Shares of Paymentus stock opened at $40.08 on Friday. The business’s fifty day simple moving average is $26.83 and its 200 day simple moving average is $26.10. The firm has a market capitalization of $5.04 billion, a P/E 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.

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

Hedge Funds Weigh In On Paymentus

Large investors have recently modified their holdings of the business. Wasatch Advisors LP raised its holdings in Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock valued at $270,194,000 after acquiring an additional 3,859,056 shares during the period. Invesco Ltd. lifted its position in shares of Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after acquiring an additional 2,032,819 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Paymentus in the fourth quarter worth $60,452,000. Brown Brothers Harriman & Co. grew its position in shares of Paymentus by 148.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock valued at $49,931,000 after purchasing an additional 943,244 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Paymentus by 20.7% in the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock valued at $138,740,000 after purchasing an additional 753,281 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

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

About Paymentus

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.