GSA Capital Partners LLP Acquires 34,307 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

GSA Capital Partners LLP raised its stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 38.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,189 shares of the business services provider's stock after purchasing an additional 34,307 shares during the period. GSA Capital Partners LLP owned 0.10% of Paymentus worth $2,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PAY. nVerses Capital LLC grew its stake in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,100 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider's stock valued at $28,000 after acquiring an additional 650 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in shares of Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider's stock valued at $45,000 after acquiring an additional 1,381 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Paymentus in the first quarter valued at about $106,000. Finally, SG Americas Securities LLC acquired a new position in shares of Paymentus in the third quarter valued at about $132,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PAY. Canaccord Genuity Group downgraded shares of Paymentus from a "strong-buy" rating to a "hold" rating in a research note on Monday. StockNews.com upgraded shares of Paymentus from a "sell" rating to a "hold" rating in a research note on Saturday, August 3rd. Robert W. Baird increased their price objective on shares of Paymentus from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group increased their price objective on shares of Paymentus from $21.00 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Paymentus currently has an average rating of "Hold" and an average target price of $23.50.

Paymentus Price Performance

NYSE PAY traded down $0.12 during trading hours on Tuesday, reaching $26.67. The company's stock had a trading volume of 442,391 shares, compared to its average volume of 241,065. The firm has a fifty day simple moving average of $22.81 and a 200-day simple moving average of $21.02. The stock has a market cap of $3.32 billion, a P/E ratio of 107.16 and a beta of 1.41. Paymentus Holdings, Inc. has a 52 week low of $14.77 and a 52 week high of $27.93.

About Paymentus

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.