JPMorgan Chase & Co. Has $28.71 Million Position in Paymentus Holdings, Inc. (NYSE:PAY)

JPMorgan Chase & Co. boosted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 878,887 shares of the business services provider's stock after buying an additional 169,237 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.71% of Paymentus worth $28,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAY. Swiss National Bank boosted its stake in shares of Paymentus by 2.7% during the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock worth $1,222,000 after acquiring an additional 1,000 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Paymentus during the 4th quarter valued at $35,000. R Squared Ltd bought a new position in Paymentus during the fourth quarter worth $43,000. XTX Topco Ltd increased its holdings in shares of Paymentus by 17.2% in the third quarter. XTX Topco Ltd now owns 20,905 shares of the business services provider's stock valued at $419,000 after purchasing an additional 3,064 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Paymentus in the fourth quarter valued at about $134,000. Institutional investors own 78.38% of the company's stock.

Paymentus Price Performance

NYSE:PAY traded up $1.32 during trading hours on Friday, reaching $27.79. 606,335 shares of the company were exchanged, compared to its average volume of 331,289. The company has a market capitalization of $3.47 billion, a P/E ratio of 89.65 and a beta of 1.65. The business has a 50 day moving average of $28.08 and a 200 day moving average of $29.38. Paymentus Holdings, Inc. has a 1-year low of $16.94 and a 1-year high of $38.94.

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Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. Wells Fargo & Company upped their target price on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. StockNews.com lowered Paymentus from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. Robert W. Baird decreased their price objective on Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Paymentus currently has a consensus rating of "Hold" and a consensus price target of $30.00.

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.