Paymentus Holdings, Inc. (NYSE:PAY) Stock Position Raised by Capital International Investors

Capital International Investors boosted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,362,065 shares of the business services provider's stock after purchasing an additional 888,914 shares during the quarter. Capital International Investors owned approximately 3.50% of Paymentus worth $142,509,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PAY. TimesSquare Capital Management LLC bought a new stake in shares of Paymentus in the fourth quarter worth $35,000. R Squared Ltd bought a new stake in shares of Paymentus in the 4th quarter worth about $43,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Paymentus in the 4th quarter valued at about $134,000. KLP Kapitalforvaltning AS bought a new position in shares of Paymentus during the fourth quarter worth about $137,000. Finally, Barclays PLC grew its stake in Paymentus by 1,569.3% in the third quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock worth $101,000 after purchasing an additional 4,755 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Up 3.1 %

NYSE PAY traded up $0.94 on Thursday, hitting $31.13. The stock had a trading volume of 148,152 shares, compared to its average volume of 336,036. The company's 50-day moving average is $27.71 and its two-hundred day moving average is $29.75. Paymentus Holdings, Inc. has a one year low of $16.94 and a one year high of $38.94. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 100.42 and a beta of 1.65.

Wall Street Analyst Weigh In

Several analysts have issued reports on PAY shares. Robert W. Baird cut their price objective on Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. The Goldman Sachs Group set a $28.00 price objective on Paymentus and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their target price on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company raised their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, StockNews.com lowered shares of Paymentus from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.00.

Insider Buying and Selling

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the transaction, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the sale, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company's stock.

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.