Quadrature Capital Ltd Has $328,000 Stock Position in Paymentus Holdings, Inc. (NYSE:PAY)

Quadrature Capital Ltd trimmed its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 70.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,367 shares of the business services provider's stock after selling 38,760 shares during the period. Quadrature Capital Ltd's holdings in Paymentus were worth $328,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its stake 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 worth $2,486,000 after buying an additional 34,307 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Paymentus in the 3rd quarter valued at about $629,000. PDT Partners LLC lifted its stake in shares of Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider's stock valued at $964,000 after purchasing an additional 13,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Paymentus in the 3rd quarter valued at about $331,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 87.76% of the stock is owned by company insiders.

Paymentus Trading Down 5.2 %

PAY stock traded down $1.73 during midday trading on Tuesday, hitting $31.86. 475,348 shares of the company's stock were exchanged, compared to its average volume of 270,979. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94. The firm has a 50 day moving average price of $28.66 and a 200-day moving average price of $23.30. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 108.48 and a beta of 1.63.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. Robert W. Baird lifted their price objective on Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Paymentus from $21.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Canaccord Genuity Group downgraded Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Paymentus has a consensus rating of "Hold" and an average price target of $28.80.

Paymentus 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.