Quantbot Technologies LP Has $908,000 Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Quantbot Technologies LP lifted its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 345.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,780 shares of the business services provider's stock after purchasing an additional 21,540 shares during the period. Quantbot Technologies LP's holdings in Paymentus were worth $908,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PAY. TimesSquare Capital Management LLC bought a new stake in Paymentus during the fourth quarter valued at $35,000. R Squared Ltd acquired a new position in shares of Paymentus in the 4th quarter valued at about $43,000. Advisors Asset Management Inc. grew its position 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 valued at $34,000 after buying an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus during the third quarter worth about $43,000. Finally, Arcadia Investment Management Corp MI bought a new position in Paymentus in the fourth quarter worth about $134,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PAY. Wells Fargo & Company upped their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Wedbush restated an "outperform" rating and issued a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price target on Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. StockNews.com upgraded Paymentus from a "sell" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Robert W. Baird lowered their target price on Paymentus from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $31.83.

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Insiders Place Their Bets

In related news, CFO Sanjay Kalra sold 15,794 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 466,035 shares of the company's stock, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company's stock, valued at approximately $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. Corporate insiders own 87.76% of the company's stock.

Paymentus Stock Performance

Shares of NYSE:PAY traded down $0.62 on Friday, hitting $26.33. 240,108 shares of the company were exchanged, compared to its average volume of 325,751. The company's 50 day moving average price is $29.32 and its two-hundred day moving average price is $29.06. Paymentus Holdings, Inc. has a one year low of $16.94 and a one year high of $38.94. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 84.94 and a beta of 1.68.

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.