Clearbridge Investments LLC Decreases Stock Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Clearbridge Investments LLC lowered its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,253 shares of the business services provider’s stock after selling 146,700 shares during the period. Clearbridge Investments LLC owned 0.28% of Paymentus worth $7,877,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PAY. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Paymentus during the 4th quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Paymentus by 2,948.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,629 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Paymentus in the first quarter valued at approximately $106,000. RiverPark Advisors LLC purchased a new position in Paymentus in the first quarter valued at approximately $136,000. Finally, Trexquant Investment LP acquired a new stake in Paymentus during the fourth quarter worth approximately $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

Paymentus Stock Up 0.6 %

PAY opened at $20.05 on Thursday. Paymentus Holdings, Inc. has a 52 week low of $10.40 and a 52 week high of $25.21. The business has a 50 day moving average price of $19.15 and a two-hundred day moving average price of $18.97. The company has a market cap of $2.49 billion, a PE ratio of 86.70 and a beta of 1.46.

Paymentus (NYSE:PAY) last released its quarterly earnings results on Monday, May 6th. The business services provider reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Paymentus had a return on equity of 8.74% and a net margin of 4.43%. The business had revenue of $184.88 million during the quarter, compared to analysts’ expectations of $174.75 million. As a group, sell-side analysts expect that Paymentus Holdings, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.85, for a total transaction of $105,107.60. Following the transaction, the general counsel now directly owns 136,536 shares in the company, valued at $2,573,703.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Andrew A. Gerber sold 5,576 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.85, for a total transaction of $105,107.60. Following the completion of the transaction, the general counsel now directly owns 136,536 shares of the company’s stock, valued at approximately $2,573,703.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Andrew A. Gerber sold 1,575 shares of Paymentus stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the sale, the general counsel now owns 142,112 shares in the company, valued at $2,673,126.72. The disclosure for this sale can be found here. 87.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PAY shares. Wells Fargo & Company upped their target price on shares of Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. The Goldman Sachs Group upped their price objective on shares of Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Citigroup lifted their target price on Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Baird R W raised Paymentus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Canaccord Genuity Group upgraded Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.06.

Paymentus 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.