William Ingram Sells 11,409 Shares of Paymentus Holdings, Inc. (NYSE:PAY) Stock

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) Director William Ingram sold 11,409 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $38.01, for a total value of $433,656.09. Following the transaction, the director now directly owns 73,963 shares of the company's stock, valued at $2,811,333.63. The trade was a 13.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paymentus Stock Performance

Shares of PAY stock traded up $0.23 on Friday, hitting $38.86. 1,365,062 shares of the stock traded hands, compared to its average volume of 348,670. Paymentus Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $40.43. The firm's 50-day moving average price is $30.14 and its two-hundred day moving average price is $31.12. The stock has a market capitalization of $4.86 billion, a PE ratio of 125.34 and a beta of 1.61.

Hedge Funds Weigh In On Paymentus

A number of institutional investors have recently bought and sold shares of PAY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Paymentus by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider's stock valued at $510,000 after buying an additional 484 shares during the period. Advisors Asset Management Inc. lifted its holdings in Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider's stock valued at $90,000 after acquiring an additional 665 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Paymentus by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider's stock worth $214,000 after acquiring an additional 823 shares during the period. Cetera Investment Advisers increased its stake in Paymentus by 7.1% during the fourth quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock worth $434,000 after acquiring an additional 883 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Paymentus in the fourth quarter valued at $32,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PAY. JPMorgan Chase & Co. boosted their price target on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Robert W. Baird upped their price objective on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wedbush set a $40.00 price objective on shares of Paymentus and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company boosted their target price on Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Paymentus presently has an average rating of "Moderate Buy" and an average target price of $36.00.

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.