Andrew A. Gerber, General Counsel and Secretary at Paymentus Holdings, Inc. (NYSE:PAY), recently sold a portion of the company's Class A Common Stock. According to a filing with the Securities and Exchange Commission, Gerber sold 2,816 shares on November 18, realizing a total of $97,465. The shares were sold at a weighted average price of $34.6115, with individual transaction prices ranging from $34.2337 to $35.05.
The sales were made to cover tax obligations related to the vesting and settlement of restricted stock units under Paymentus's 2021 Equity Incentive Plan. Following this transaction, Gerber retains ownership of 132,197 shares in the company.
In other recent news, Paymentus reported substantial financial growth in its Q3 2024 earnings call, with a remarkable year-over-year revenue increase of 51.9% to $231.6 million and a 58.2% rise in adjusted EBITDA to $24.6 million. The company also raised its full-year 2024 guidance, indicating a positive outlook for sustained growth. Transaction (JO:TCPJ) volume saw a significant rise of 34.6% to 155.3 million, and the firm maintains a strong cash position with $190.8 million.
Despite an increase in operating expenses by 16.9% to $44.3 million and a slight reduction in contribution margin to 34.5%, Paymentus showed improved operational efficiency. The company's transition to servicing high-end clients and expanding its offerings suggests a significant opportunity for future growth.
Paymentus anticipates Q4 revenue between $215 million and $220 million, with a full-year projection of $829 million to $834 million. Full-year adjusted EBITDA is expected to be between $89 million and $91 million. These recent developments underline Paymentus' strategic focus on expanding market share and long-term shareholder returns.
InvestingPro Insights
Paymentus Holdings, Inc. (NYSE:PAY) has been experiencing significant growth and market momentum, as evidenced by recent InvestingPro data. The company's stock has shown remarkable performance, with a 111.53% price total return over the past year and a 97.09% return year-to-date. This aligns with the recent insider transaction, as the stock price at which Andrew A. Gerber sold shares ($34.6115) is near the company's 52-week high, with the current price at 96.68% of that peak.
The company's financial health appears robust, with revenue growing at 33.82% over the last twelve months to $778.67 million. This growth is complemented by a strong quarterly revenue increase of 51.93% in Q3 2024. Paymentus's profitability is also noteworthy, with an adjusted operating income of $39.81 million and an EBITDA of $48.76 million for the last twelve months.
InvestingPro Tips highlight that Paymentus is trading at a low P/E ratio relative to its near-term earnings growth, suggesting potential undervaluation despite its recent stock price surge. Additionally, analysts have revised their earnings estimates upwards for the upcoming period, indicating positive expectations for the company's financial performance.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Paymentus, providing deeper insights into the company's valuation and growth prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.