Paymentus Holdings, Inc. (NYSE:PAY) Stock Position Decreased by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 29.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,654 shares of the business services provider’s stock after selling 13,873 shares during the period. Wakefield Asset Management LLLP’s holdings in Paymentus were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versor Investments LP bought a new stake in shares of Paymentus in the 3rd quarter worth approximately $331,000. GSA Capital Partners LLP lifted its stake in Paymentus by 38.2% in the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after buying an additional 34,307 shares during the last quarter. RiverPark Advisors LLC lifted its stake in Paymentus by 8.8% in the third quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider’s stock valued at $311,000 after buying an additional 1,258 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Paymentus by 3,809.6% during the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 20,343 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after acquiring an additional 28,628 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Down 0.5 %

Shares of PAY stock opened at $27.13 on Friday. The stock has a 50-day simple moving average of $31.31 and a 200 day simple moving average of $28.19. Paymentus Holdings, Inc. has a fifty-two week low of $15.15 and a fifty-two week high of $38.94. The stock has a market capitalization of $3.38 billion, a P/E ratio of 87.50 and a beta of 1.66.

Insider Activity

In other news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the transaction, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,136 shares of company stock worth $1,883,831. Corporate insiders own 87.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PAY shares. Robert W. Baird boosted their target price on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wedbush initiated coverage on Paymentus in a research report on Monday, February 3rd. They set an “outperform” rating for the company. Wells Fargo & Company increased their price objective on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group raised their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.00.

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.