EAM Investors LLC Invests $4.07 Million in Paymentus Holdings, Inc. (NYSE:PAY)

EAM Investors LLC acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 124,563 shares of the business services provider's stock, valued at approximately $4,069,000. EAM Investors LLC owned approximately 0.10% of Paymentus at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Paymentus by 246.2% during the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after purchasing an additional 412,095 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Paymentus by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider's stock worth $58,697,000 after acquiring an additional 273,027 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Paymentus by 23.8% in the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock valued at $28,713,000 after acquiring an additional 169,237 shares during the last quarter. Renaissance Technologies LLC raised its position in Paymentus by 159.9% during the fourth quarter. Renaissance Technologies LLC now owns 221,200 shares of the business services provider's stock valued at $7,227,000 after purchasing an additional 136,100 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Paymentus during the fourth quarter worth $3,109,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Paymentus Trading Down 1.1 %

NYSE PAY traded down $0.32 during mid-day trading on Monday, hitting $28.82. The company's stock had a trading volume of 70,786 shares, compared to its average volume of 334,955. The company's 50 day simple moving average is $27.78 and its 200 day simple moving average is $29.70. Paymentus Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $38.94. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 92.97 and a beta of 1.65.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PAY shares. Wedbush reiterated an "outperform" rating and set a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. The Goldman Sachs Group set a $28.00 price target on Paymentus and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Robert W. Baird reduced their price objective on Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. StockNews.com cut Paymentus from a "hold" rating to a "sell" rating in a report on Friday, April 4th. Finally, Wells Fargo & Company raised 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. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $30.00.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 94,855 shares of the company's stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by insiders.

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.