Gary Trainor Sells 80,000 Shares of Paymentus (NYSE:PAY) 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 shares were sold at an average price of $40.79, for a total value of $3,263,200.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

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

Paymentus Trading Up 0.2%

Shares of NYSE PAY traded up $0.08 during midday trading on Thursday, reaching $40.08. The company’s stock had a trading volume of 814,796 shares, compared to its average volume of 1,280,175. The stock has a 50 day simple moving average of $26.83 and a 200-day simple moving average of $26.10. 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 fifty-two week low of $20.11 and a fifty-two week high of $45.31.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on PAY. Robert W. Baird raised their price objective on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group upped 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 set a $44.00 price target on shares of Paymentus in a research report on Tuesday. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Wedbush boosted their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Institutional Investors Weigh In On Paymentus

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its position in Paymentus by 26.8% during the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after buying an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Paymentus by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after acquiring an additional 683 shares during the period. Millennium Management LLC boosted its stake in shares of Paymentus by 4.2% during the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after acquiring an additional 9,890 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Paymentus by 275.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after acquiring an additional 419,736 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Paymentus by 34.7% during the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after acquiring an additional 6,616 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

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.