Sanjay Kalra, the Senior Vice President and Chief Financial Officer of Paymentus Holdings, Inc. (NYSE:PAY), reported the sale of shares in a recent filing. On November 18, Kalra sold a total of 15,654 shares of Class A common stock. The shares were sold at prices ranging from $34.1192 to $34.7662 per share, amounting to a total transaction value of $535,428.
According to the filing, the sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units under Paymentus Holdings' 2021 Equity Incentive Plan. Following the transaction, Kalra holds 481,829 shares directly.
In other recent news, Paymentus reported a substantial financial growth in its Q3 2024 earnings call. The company reported a robust year-over-year revenue increase of 51.9% to $231.6 million and a significant rise in adjusted EBITDA by 58.2% to $24.6 million. This strong performance led to an upward revision of its full-year 2024 guidance, emphasizing long-term growth targets. The transaction volume also grew by 34.6% to 155.3 million.
Despite a slight dip in contribution margin and increased operating expenses, Paymentus maintains a strong cash position with $190.8 million and a working capital of approximately $245.8 million. The company expects Q4 revenue between $215 million and $220 million, with a full-year projection of $829 million to $834 million.
In other developments, Paymentus is experiencing a shift to high-end clients and is focused on expanding its market share and long-term shareholder returns. The company did not provide detailed backlog data but confirmed a strong and diverse backlog. These are recent developments that underscore Paymentus' commitment to strategic growth and profitability.
InvestingPro Insights
Paymentus Holdings, Inc. (NYSE:PAY) has been experiencing significant growth and market attention, as evidenced by recent financial data and analyst sentiment. According to InvestingPro data, the company's revenue growth stands at an impressive 33.82% over the last twelve months as of Q3 2024, with quarterly revenue growth reaching 51.93% in Q3 2024. This robust top-line expansion aligns with the company's market performance, as PAY's stock has seen a remarkable 111.53% price return over the past year.
InvestingPro Tips highlight that net income is expected to grow this year, and five analysts have revised their earnings upwards for the upcoming period. These positive indicators suggest that the company's financial trajectory remains strong, potentially justifying the high valuation metrics observed. The stock is currently trading at a P/E ratio of 111.41, which is considered high, but it's worth noting that the PEG ratio stands at a more modest 0.54, indicating that the high P/E might be justified by the company's growth prospects.
The recent share sale by CFO Sanjay Kalra for tax purposes occurs against a backdrop of strong market performance, with PAY trading near its 52-week high and showing significant returns over various timeframes. The stock has gained 32.36% in just the past week and 87.44% over the last six months, reflecting strong investor confidence.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Paymentus Holdings, providing a deeper understanding of the company's financial health and market position.
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