Franklin Resources Inc. trimmed its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,041,056 shares of the business services provider's stock after selling 32,273 shares during the quarter. Franklin Resources Inc. owned about 1.64% of Paymentus worth $40,862,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC lifted its stake in shares of Paymentus by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock worth $26,000 after acquiring an additional 1,100 shares during the period. MCF Advisors LLC increased its position in shares of Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider's stock valued at $28,000 after purchasing an additional 650 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock worth $34,000 after buying an additional 1,027 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Paymentus in the third quarter valued at $43,000. Finally, Arcadia Investment Management Corp MI grew its holdings in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider's stock worth $45,000 after acquiring an additional 1,381 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.
Paymentus Price Performance
PAY traded down $0.52 on Wednesday, hitting $35.19. The company had a trading volume of 72,508 shares, compared to its average volume of 276,034. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94. The company's fifty day moving average price is $30.04 and its 200 day moving average price is $23.84. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 115.13 and a beta of 1.63.
Analyst Upgrades and Downgrades
PAY has been the topic of a number of research reports. JPMorgan Chase & Co. boosted 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. 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. Canaccord Genuity Group downgraded Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Robert W. Baird lifted their target price 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. Finally, The Goldman Sachs Group raised their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.80.
View Our Latest Report on Paymentus
Insider Buying and Selling
In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the company'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 value of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares in the company, valued at approximately $3,658,478. This represents a 25.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 87.76% of the stock is currently owned by insiders.
Paymentus 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.
Further Reading
Before you consider Paymentus, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paymentus wasn't on the list.
While Paymentus currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
