Advantage Alpha Capital Partners LP Cuts Stock Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Advantage Alpha Capital Partners LP cut its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 22.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,275 shares of the business services provider's stock after selling 40,734 shares during the quarter. Advantage Alpha Capital Partners LP owned 0.12% of Paymentus worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PAY. GSA Capital Partners LLP boosted its stake in shares of Paymentus by 38.2% during the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider's stock valued at $2,486,000 after purchasing an additional 34,307 shares during the period. Cerity Partners LLC purchased a new stake in shares of Paymentus during the third quarter worth about $629,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Paymentus by 196.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider's stock valued at $864,000 after purchasing an additional 28,628 shares during the last quarter. Sei Investments Co. purchased a new stake in Paymentus in the 1st quarter worth approximately $513,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Paymentus by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider's stock worth $10,279,000 after buying an additional 20,767 shares during the last quarter. 12.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. The Goldman Sachs Group lifted their price objective on Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Robert W. Baird increased their target price on Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded Paymentus from a "sell" rating to a "hold" rating in a research report on Saturday, August 3rd. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.80.

Paymentus Stock Performance

Shares of PAY traded up $0.28 during mid-day trading on Tuesday, reaching $38.09. The company had a trading volume of 297,670 shares, compared to its average volume of 262,253. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 123.58 and a beta of 1.41. The firm has a 50-day moving average price of $25.49 and a 200 day moving average price of $22.01. Paymentus Holdings, Inc. has a 52 week low of $14.77 and a 52 week high of $38.76.

Paymentus Company 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.