Paymentus Holdings, Inc. (NYSE:PAY) Stake Lifted by Quantbot Technologies LP

Quantbot Technologies LP increased its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 345.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,780 shares of the business services provider’s stock after buying an additional 21,540 shares during the quarter. Quantbot Technologies LP’s holdings in Paymentus were worth $908,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Paymentus by 32,191.6% in the 3rd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Paymentus during the fourth quarter worth about $3,109,000. JPMorgan Chase & Co. raised its position in Paymentus by 13.0% in the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Paymentus by 158.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 111,403 shares of the business services provider’s stock valued at $3,640,000 after acquiring an additional 68,235 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Paymentus during the 3rd quarter valued at about $839,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Down 1.8 %

PAY stock opened at $27.81 on Thursday. The company has a 50 day moving average of $29.46 and a two-hundred day moving average of $28.92. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 89.71 and a beta of 1.68. Paymentus Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $38.94.

Insider Buying and Selling

In related 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 owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction 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 $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. 87.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. Robert W. Baird cut 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. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. dropped their price target on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.83.

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.