Wakefield Asset Management LLLP Has $1.07 Million Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Wakefield Asset Management LLLP reduced its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,654 shares of the business services provider’s stock after selling 13,873 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Paymentus were worth $1,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC grew its stake in Paymentus by 32,191.6% during the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock valued at $4,564,000 after acquiring an additional 227,273 shares in the last quarter. JPMorgan Chase & Co. grew its position in Paymentus by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in Paymentus in the 3rd quarter worth approximately $839,000. GSA Capital Partners LLP boosted its stake in shares of Paymentus by 38.2% during the 3rd 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 period. Finally, Cerity Partners LLC purchased a new position in shares of Paymentus during the 3rd quarter valued at $629,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares in the company, valued at approximately $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus 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 sale, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,136 shares of company stock worth $1,883,831. 87.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PAY. Wedbush initiated coverage on Paymentus in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. The Goldman Sachs Group upped their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Robert W. Baird increased their price objective on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lifted their price target on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Paymentus Trading Down 0.5 %

Shares of Paymentus stock opened at $27.13 on Friday. Paymentus Holdings, Inc. has a 1 year low of $15.15 and a 1 year high of $38.94. The company’s fifty day simple moving average is $31.31 and its 200-day simple moving average is $28.19. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 87.50 and a beta of 1.66.

Paymentus Company 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.