Quest Partners LLC Acquires 20,343 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Quest Partners LLC lifted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 3,809.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,877 shares of the business services provider's stock after purchasing an additional 20,343 shares during the quarter. Quest Partners LLC's holdings in Paymentus were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in Paymentus in the first quarter worth about $513,000. Russell Investments Group Ltd. purchased a new stake in shares of Paymentus in the 1st quarter worth approximately $106,000. Vanguard Group Inc. increased its position in 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. Comerica Bank raised its stake in Paymentus by 4,713.1% during the first quarter. Comerica Bank now owns 20,552 shares of the business services provider's stock valued at $468,000 after buying an additional 20,125 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in Paymentus by 139.1% in the second quarter. RiverPark Advisors LLC now owns 14,269 shares of the business services provider's stock worth $271,000 after acquiring an additional 8,302 shares in the last quarter. 12.55% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Up 3.8 %

PAY stock traded up $1.38 on Monday, hitting $37.82. The company had a trading volume of 379,045 shares, compared to its average volume of 262,097. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $37.90. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 122.00 and a beta of 1.41. The stock's 50-day simple moving average is $25.49 and its 200 day simple moving average is $22.01.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PAY shares. The Goldman Sachs Group lifted their price target on Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Wells Fargo & Company lifted their target price on shares of Paymentus from $21.00 to $27.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 13th. Robert W. Baird increased their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Paymentus from a "sell" rating to a "hold" rating in a report on Saturday, August 3rd. Finally, JPMorgan Chase & Co. increased their target price on Paymentus from $21.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.