Andrew A. Gerber, the General Counsel and Secretary of Paymentus Holdings, Inc. (NYSE:PAY), has sold 34,272 shares of the company's Class A Common Stock. The transaction, executed on December 4, 2024, was conducted under a Rule 10b5-1 trading plan set up by Gerber on September 4, 2024. The sale comes as Paymentus, currently valued at $4.63 billion, has seen its stock surge over 92% in the past six months. According to InvestingPro analysis, the company maintains a GREAT financial health score. The shares were sold at a weighted average price of $37.3562, with prices ranging from $36.87 to $37.81. Following this sale, Gerber retains ownership of 97,925 shares in the company. The stock currently trades near its 52-week high of $38.94, reflecting a remarkable 102% return over the past year. InvestingPro subscribers can access 13 additional investment tips and a comprehensive Pro Research Report for deeper insights into Paymentus's valuation and growth prospects.
In other recent news, Paymentus has reported significant financial growth in its Q3 2024 earnings call. The firm's year-over-year revenue surged by 51.9% to $231.6 million, while its adjusted EBITDA rose by 58.2% to $24.6 million. This robust performance led to an upward revision of Paymentus' full-year 2024 guidance, emphasizing its long-term growth targets. The company also reported a 34.6% increase in transaction volume and maintains a strong cash position of $190.8 million.
Furthermore, Paymentus expects Q4 revenue to be between $215 million and $220 million, with a full-year projection of $829 million to $834 million. The full-year adjusted EBITDA is anticipated to be between $89 million and $91 million. Despite a slight reduction in contribution margin and an increase in operating expenses, the company remains optimistic about its growth trajectory.
These are recent developments that highlight Paymentus' successful expansion of its market share and onboarding of significant new clients. The company's strategic focus on long-term profitability and its strong Rule of 40 score underline its operational efficiency and potential for continued success.
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