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

Wakefield Asset Management LLLP trimmed its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. raised its holdings in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock valued at $34,000 after acquiring an additional 1,027 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in Paymentus in the fourth quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Paymentus during the third quarter worth about $43,000. R Squared Ltd bought a new stake in Paymentus during the fourth quarter worth about $43,000. Finally, Barclays PLC increased its holdings in Paymentus by 1,569.3% in the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock valued at $101,000 after buying an additional 4,755 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target 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 raised their target price 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 lowered Paymentus from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price objective on Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Wedbush initiated coverage on Paymentus in a research report on Monday, February 3rd. They issued an "outperform" rating on the stock. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.00.

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Insider Buying and Selling at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now directly owns 466,035 shares of the company's stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 34,272 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the transaction, the general counsel now directly owns 97,925 shares of the company's stock, valued at $3,658,478. The trade was a 25.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,136 shares of company stock worth $1,883,831. 87.76% of the stock is currently owned by insiders.

Paymentus Price Performance

Shares of NYSE PAY traded down $0.47 during mid-day trading on Tuesday, hitting $26.52. 289,887 shares of the stock traded hands, compared to its average volume of 326,275. The company has a market cap of $3.30 billion, a PE ratio of 85.67 and a beta of 1.66. Paymentus Holdings, Inc. has a twelve month low of $15.85 and a twelve month high of $38.94. The firm has a 50 day simple moving average of $31.04 and a two-hundred day simple moving average of $28.33.

About Paymentus

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.