FMR LLC boosted its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 32,191.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,979 shares of the business services provider's stock after purchasing an additional 227,273 shares during the quarter. FMR LLC owned about 0.18% of Paymentus worth $4,564,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in Paymentus by 38.2% in the 3rd 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 last quarter. Cerity Partners LLC purchased a new stake in Paymentus in the 3rd quarter valued at $629,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Paymentus by 196.9% in 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. Versor Investments LP purchased a new stake in Paymentus in the 3rd quarter valued at $331,000. Finally, Quest Partners LLC raised its position in Paymentus by 3,809.6% in the 3rd quarter. Quest Partners LLC now owns 20,877 shares of the business services provider's stock valued at $418,000 after purchasing an additional 20,343 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Robert W. Baird upped 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. JPMorgan Chase & Co. upped their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Canaccord Genuity Group downgraded shares of Paymentus from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company upped their price objective on shares of Paymentus from $21.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Paymentus presently has a consensus rating of "Hold" and a consensus price target of $28.80.
Check Out Our Latest Report on PAY
Insider Activity at Paymentus
In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total value of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares of the company's stock, valued at approximately $3,658,478. This represents a 25.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 87.76% of the stock is owned by corporate insiders.
Paymentus Trading Down 1.7 %
Shares of NYSE:PAY traded down $0.61 on Friday, reaching $34.35. 317,066 shares of the company were exchanged, compared to its average volume of 275,871. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 110.81 and a beta of 1.63. The company has a 50-day moving average of $29.73 and a 200-day moving average of $23.69.
About Paymentus
(
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.
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