Paymentus Holdings, Inc. (NYSE:PAY) Stock Holdings Trimmed by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,953 shares of the business services provider’s stock after selling 255,090 shares during the period. Clearbridge Investments LLC owned approximately 0.40% of Paymentus worth $8,809,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PAY. Deutsche Bank AG acquired a new stake in Paymentus in the 3rd quarter valued at $11,806,000. Lord Abbett & CO. LLC bought a new stake in Paymentus during the 3rd quarter worth about $8,026,000. Hillsdale Investment Management Inc. lifted its holdings in Paymentus by 53,916.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock valued at $3,475,000 after buying an additional 194,100 shares during the period. Wakefield Asset Management LLLP bought a new position in shares of Paymentus in the 4th quarter worth $875,000. Finally, Vanguard Group Inc. grew its position in shares of Paymentus by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,345,935 shares of the business services provider’s stock worth $22,343,000 after buying an additional 29,882 shares during the period. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 1,575 shares of Paymentus stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.81, for a total transaction of $29,625.75. Following the completion of the transaction, the general counsel now owns 142,112 shares in the company, valued at $2,673,126.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 87.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAY. Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their price target on Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Wells Fargo & Company raised their price objective on Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Citigroup boosted their price objective on Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, TheStreet lowered shares of Paymentus from a “c-” rating to a “d+” rating in a research report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.06.

Paymentus Trading Up 1.9 %

Shares of PAY traded up $0.35 during trading hours on Friday, reaching $19.07. 147,839 shares of the company’s stock traded hands, compared to its average volume of 310,399. The firm’s 50 day simple moving average is $20.59 and its 200-day simple moving average is $18.33. The stock has a market cap of $2.37 billion, a PE ratio of 82.92 and a beta of 1.54. Paymentus Holdings, Inc. has a 12 month low of $8.86 and a 12 month high of $25.21.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $164.80 million during the quarter, compared to the consensus estimate of $157.38 million. Paymentus had a return on equity of 8.74% and a net margin of 4.43%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 earnings per share. As a group, analysts expect that Paymentus Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

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.