Paymentus Holdings, Inc. (NYSE:PAY) Stock Position Decreased by Next Century Growth Investors LLC

Next Century Growth Investors LLC cut its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,287,824 shares of the business services provider's stock after selling 51,707 shares during the quarter. Paymentus comprises 3.2% of Next Century Growth Investors LLC's investment portfolio, making the stock its biggest position. Next Century Growth Investors LLC owned about 1.03% of Paymentus worth $42,073,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Paymentus by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider's stock worth $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Paymentus in the 4th quarter worth $215,000. Barclays PLC raised its position in shares of Paymentus by 1,569.3% during the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock valued at $101,000 after buying an additional 4,755 shares in the last quarter. Geode Capital Management LLC grew its position in Paymentus by 2.6% in the third quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider's stock worth $4,129,000 after acquiring an additional 5,127 shares in the last quarter. Finally, FMR LLC increased its stake in Paymentus by 32,191.6% in the third quarter. FMR LLC now owns 227,979 shares of the business services provider's stock valued at $4,564,000 after acquiring an additional 227,273 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Paymentus Trading Up 1.0 %

NYSE PAY traded up $0.28 on Thursday, hitting $29.39. The company's stock had a trading volume of 85,420 shares, compared to its average volume of 333,457. The firm has a market cap of $3.67 billion, a P/E ratio of 94.81 and a beta of 1.65. The company's 50-day simple moving average is $27.89 and its 200 day simple moving average is $29.44. Paymentus Holdings, Inc. has a 52-week low of $16.94 and a 52-week high of $38.94.

Analysts Set New Price Targets

Several brokerages have recently commented on PAY. StockNews.com lowered Paymentus from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. The Goldman Sachs Group set a $28.00 price objective on shares of Paymentus and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their target price on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Paymentus from $36.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Wedbush reaffirmed an "outperform" rating and set a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $30.00.

Insider Buying and Selling at Paymentus

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