95,179 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 95,179 shares of the business services provider's stock, valued at approximately $3,109,000. Raymond James Financial Inc. owned about 0.08% of Paymentus at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PAY. FMR LLC lifted 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 worth $4,564,000 after buying an additional 227,273 shares during the period. JPMorgan Chase & Co. lifted its position in Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider's stock worth $14,207,000 after acquiring an additional 81,853 shares during the period. Main Management ETF Advisors LLC purchased a new stake in Paymentus during the 3rd quarter valued at about $839,000. Cerity Partners LLC purchased a new stake in Paymentus during the 3rd quarter valued at about $629,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in shares of Paymentus in the fourth quarter valued at about $963,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. Wells Fargo & Company upped their price objective on shares of Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Robert W. Baird reduced their target price on shares of Paymentus from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. StockNews.com upgraded shares of Paymentus from a "sell" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, 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 research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Paymentus currently has an average rating of "Hold" and an average target price of $31.83.

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Paymentus Stock Performance

NYSE PAY traded up $0.19 during mid-day trading on Wednesday, reaching $27.39. 387,580 shares of the stock were exchanged, compared to its average volume of 326,461. The company has a market capitalization of $3.42 billion, a P/E ratio of 88.35 and a beta of 1.68. The business's 50 day moving average is $29.08 and its 200-day moving average is $29.12. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 87.76% of the company's stock.

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.