Legato Capital Management LLC Sells 27,905 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Legato Capital Management LLC lowered its position in Paymentus Holdings, Inc. (NYSE:PAY) by 38.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,158 shares of the business services provider’s stock after selling 27,905 shares during the period. Legato Capital Management LLC’s holdings in Paymentus were worth $1,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PAY. nVerses Capital LLC increased its position in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Paymentus in the third quarter valued at about $43,000. R Squared Ltd bought a new position in shares of Paymentus during the 4th quarter worth approximately $43,000. Finally, Barclays PLC increased its stake 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 last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PAY has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their target price 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. The Goldman Sachs Group increased their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Wedbush started coverage on shares of Paymentus in a report on Monday, February 3rd. They set an “outperform” rating for the company. Finally, Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Paymentus Trading Down 4.2 %

Shares of NYSE PAY opened at $30.22 on Thursday. The firm’s 50-day moving average price is $32.42 and its 200-day moving average price is $27.53. The firm has a market capitalization of $3.77 billion, a P/E ratio of 97.48 and a beta of 1.66. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94.

Insider Buying and Selling

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 completion of the sale, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 87.76% of the stock is owned by company insiders.

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.