JPMorgan Chase & Co. Has $14.21 Million Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

JPMorgan Chase & Co. lifted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 709,650 shares of the business services provider's stock after purchasing an additional 81,853 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.57% of Paymentus worth $14,207,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. nVerses Capital LLC boosted its holdings in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock worth $26,000 after buying an additional 1,100 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Paymentus by 155.1% during 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Paymentus in the 3rd quarter valued at $43,000. Barclays PLC boosted its holdings in Paymentus by 1,569.3% in the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock valued at $101,000 after purchasing an additional 4,755 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Paymentus in the 3rd quarter valued at $132,000. 78.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PAY. The Goldman Sachs Group increased their price target on shares of Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Robert W. Baird increased their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group downgraded shares of Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $28.80.

Paymentus Stock Performance

Shares of PAY stock traded down $1.41 during mid-day trading on Friday, reaching $30.24. The company's stock had a trading volume of 515,102 shares, compared to its average volume of 641,784. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94. The company has a market cap of $3.77 billion, a P/E ratio of 97.55 and a beta of 1.67. The firm's 50-day moving average is $33.42 and its two-hundred day moving average is $25.73.

Insider Activity

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 transaction of $1,280,401.92. Following the completion of the sale, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 87.76% of the company's stock.

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.