Paymentus Holdings, Inc. (NYSE:PAY) Shares Sold by Algert Global LLC

Algert Global LLC reduced its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 33.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 85,680 shares of the business services provider's stock after selling 43,113 shares during the period. Algert Global LLC owned about 0.07% of Paymentus worth $2,799,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. TimesSquare Capital Management LLC bought a new stake in shares of Paymentus during the fourth quarter worth $35,000. R Squared Ltd bought a new stake in Paymentus during the 4th quarter valued at about $43,000. Barclays PLC lifted its holdings in Paymentus by 1,569.3% during 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 in the last quarter. Arcadia Investment Management Corp MI bought a new position in Paymentus in the 4th quarter worth about $134,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Paymentus during the fourth quarter worth approximately $137,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAY. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. The Goldman Sachs Group raised their price target on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wedbush set a $40.00 price objective on shares of Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Insider Transactions at Paymentus

In other news, CFO Sanjay Kalra sold 15,794 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company's stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 75.43% of the company's stock.

Paymentus Stock Down 0.2 %

Shares of NYSE PAY traded down $0.06 during trading hours on Friday, hitting $36.90. 405,215 shares of the stock were exchanged, compared to its average volume of 341,387. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94. The firm has a fifty day moving average price of $28.99 and a 200-day moving average price of $30.66. The company has a market cap of $4.61 billion, a PE ratio of 119.03 and a beta of 1.61.

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.