PDT Partners LLC Grows Position in Paymentus Holdings, Inc. (NYSE:PAY)

PDT Partners LLC grew its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 39.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,174 shares of the business services provider's stock after purchasing an additional 13,621 shares during the period. PDT Partners LLC's holdings in Paymentus were worth $964,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PAY. Vanguard Group Inc. boosted its holdings in shares of Paymentus by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider's stock valued at $31,596,000 after buying an additional 8,457 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Paymentus by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider's stock worth $10,279,000 after acquiring an additional 20,767 shares in the last quarter. Millennium Management LLC grew its holdings in Paymentus by 1.1% in the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider's stock worth $5,430,000 after purchasing an additional 3,124 shares during the period. FMR LLC increased its stake in shares of Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider's stock valued at $4,564,000 after purchasing an additional 227,273 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Paymentus by 8.5% during the second quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider's stock valued at $2,608,000 after buying an additional 10,729 shares during the last quarter. Institutional investors own 12.55% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on PAY. Wells Fargo & Company increased their target price on Paymentus from $21.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group cut shares of Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, Robert W. Baird increased their price objective on Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Paymentus presently has an average rating of "Hold" and a consensus price target of $28.80.

Paymentus Price Performance

Paymentus stock traded up $0.54 during mid-day trading on Monday, reaching $38.35. 585,081 shares of the stock traded hands, compared to its average volume of 265,914. The business's 50-day moving average is $26.78 and its 200-day moving average is $22.55. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94. The stock has a market capitalization of $4.78 billion, a PE ratio of 121.97 and a beta of 1.41.

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.