Insider Selling: Paymentus (NYSE:PAY) CFO Sells $117,087.25 in Stock

Key Points

• Paymentus CFO Sanjay Kalra sold 2,909 shares at an average price of $40.25, totaling $117,087.25; he still owns 505,597 shares worth approximately $20.35 million. He also sold 25,000 shares worth $1.03 million the previous day.
• Paymentus shares rose 0.2% to $40.08, while the company reported quarterly EPS of $0.25 and revenue of $360.74 million, exceeding analyst estimates; revenue increased 28.8% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $38.67, while institutional investors own 78.38% of the company.

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) CFO Sanjay Kalra sold 2,909 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the completion of the transaction, the chief financial officer owned 505,597 shares of the company's stock, valued at $20,350,279.25. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, August 4th, Sanjay Kalra sold 25,000 shares of Paymentus stock. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00.

Paymentus Stock Up 0.2%

PAY traded up $0.08 during trading on Thursday, reaching $40.08. The stock had a trading volume of 814,796 shares, compared to its average volume of 1,280,175. The stock has a 50 day moving average of $26.83 and a two-hundred day moving average of $26.10. The firm 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 1-year low of $20.11 and a 1-year high of $45.31.

Paymentus (NYSE:PAY - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. The company had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The company's quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. On average, research analysts forecast that Paymentus Holdings, Inc. will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in shares of Paymentus during the second quarter valued at approximately $2,008,000. Handelsbanken Fonder AB boosted its stake in Paymentus by 88.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 18,300 shares of the business services provider's stock worth $442,000 after purchasing an additional 8,600 shares during the period. Bank of America Corp DE grew its position in Paymentus by 155.1% during the 1st quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider's stock worth $8,890,000 after purchasing an additional 212,778 shares in the last quarter. California State Teachers Retirement System grew its position in Paymentus by 77.1% during the 1st quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider's stock worth $1,629,000 after purchasing an additional 27,921 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Paymentus by 7.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider's stock valued at $253,000 after purchasing an additional 665 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PAY. Wolfe Research reissued an "outperform" rating and issued a $44.00 price target on shares of Paymentus in a report on Tuesday. Robert W. Baird boosted their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Tuesday. Wedbush increased their target price 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. Weiss Ratings raised Paymentus from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Finally, The Goldman Sachs Group increased their price objective on Paymentus from $32.00 to $40.00 and gave the company a "neutral" rating in a research 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 issued a Hold rating to the company. According to MarketBeat.com, Paymentus currently has an average rating of "Moderate Buy" and a consensus target price 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.

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