10,800 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Purchased by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc acquired a new position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,800 shares of the business services provider's stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Paymentus during the fourth quarter worth approximately $32,000. Deutsche Bank AG acquired a new position in shares of Paymentus during the 4th quarter worth approximately $73,000. KLP Kapitalforvaltning AS purchased a new position in shares of Paymentus during the 4th quarter valued at approximately $137,000. State of Tennessee Department of Treasury acquired a new stake in Paymentus in the 4th quarter valued at $144,000. Finally, EntryPoint Capital LLC purchased a new stake in Paymentus in the 4th quarter worth $205,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted 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, May 7th. Wedbush set a $40.00 price target on shares of Paymentus and gave the company an "outperform" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their price objective on Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Robert W. Baird increased their price objective on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.80.

Insider Buying and Selling at Paymentus

In other news, Director William Ingram sold 11,409 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the sale, the director now owns 73,963 shares in the company, valued at $2,811,333.63. This trade represents a 13.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 87.76% of the stock is currently owned by company insiders.

Paymentus Price Performance

Shares of NYSE:PAY traded down $0.27 during midday trading on Wednesday, hitting $33.77. The company had a trading volume of 616,322 shares, compared to its average volume of 401,957. Paymentus Holdings, Inc. has a twelve month low of $17.38 and a twelve month high of $40.43. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 86.59 and a beta of 1.65. The business's 50-day simple moving average is $34.95 and its 200-day simple moving average is $31.72.

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.