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

Paymentus Holdings, Inc. (NYSE:PAY) CFO Sanjay Kalra sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the sale, the chief financial officer owned 508,506 shares of the company’s stock, valued at $20,955,532.26. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value of $117,087.25.

Paymentus Trading Up 0.2%

Shares of NYSE PAY opened at $40.08 on Friday. The firm has a market cap of $5.04 billion, a P/E ratio of 60.72 and a beta of 1.29. The business’s 50 day moving average is $26.83 and its 200-day moving average is $26.10. Paymentus Holdings, Inc. has a 1-year low of $20.11 and a 1-year high of $45.31.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wolfe Research restated an “outperform” rating and issued a $44.00 price target on shares of Paymentus in a research note on Tuesday. Wedbush lifted their price objective 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 boosted their price objective on shares of Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings upgraded shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Hedge Funds Weigh In On Paymentus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Royal Bank of Canada increased its position in shares of Paymentus by 26.8% in the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after purchasing an additional 38,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 683 shares in the last quarter. Millennium Management LLC lifted its position in Paymentus by 4.2% during the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after purchasing an additional 9,890 shares during the period. Goldman Sachs Group Inc. lifted its position in Paymentus by 275.8% during the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after purchasing an additional 419,736 shares during the period. Finally, Legal & General Group Plc grew its stake in Paymentus by 34.7% during the second quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after buying an additional 6,616 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

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.