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Connor Clark & Lunn Investment Management Ltd. Has $864,000 Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Paymentus logo with Computer and Technology background

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 196.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,168 shares of the business services provider's stock after buying an additional 28,628 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Paymentus were worth $864,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Paymentus by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider's stock valued at $31,596,000 after acquiring an additional 8,457 shares during the period. Dimensional Fund Advisors LP raised its holdings in Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider's stock worth $10,279,000 after purchasing an additional 20,767 shares during the last quarter. Millennium Management LLC lifted its position in Paymentus by 1.1% during the 2nd quarter. Millennium Management LLC now owns 285,781 shares of the business services provider's stock valued at $5,430,000 after purchasing an additional 3,124 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Paymentus by 8.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider's stock valued at $2,608,000 after purchasing an additional 10,729 shares during the last quarter. Finally, Algert Global LLC grew its position in shares of Paymentus by 3.2% during the 2nd quarter. Algert Global LLC now owns 135,056 shares of the business services provider's stock worth $2,566,000 after buying an additional 4,216 shares during the period. 12.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PAY has been the topic of several analyst reports. The Goldman Sachs Group increased their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a report on Friday, November 15th. JPMorgan Chase & Co. raised their target price on shares of Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Robert W. Baird increased their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered shares of Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their target price on shares of Paymentus from $21.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Paymentus currently has a consensus rating of "Hold" and a consensus target price of $28.80.

View Our Latest Research Report on Paymentus

Paymentus Price Performance

PAY stock traded down $0.16 during midday trading on Thursday, hitting $37.93. The company's stock had a trading volume of 813,945 shares, compared to its average volume of 264,908. The company's fifty day moving average price is $26.15 and its 200 day moving average price is $22.26. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $38.76. The stock has a market capitalization of $4.73 billion, a P/E ratio of 122.35 and a beta of 1.41.

Paymentus Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Paymentus (NYSE:PAY)

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