Paymentus Holdings, Inc. (NYSE:PAY) Shares Acquired by Barclays PLC

Barclays PLC grew its stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 256.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,012 shares of the business services provider's stock after buying an additional 12,954 shares during the period. Barclays PLC's holdings in Paymentus were worth $588,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. TimesSquare Capital Management LLC purchased a new position in shares of Paymentus in the 4th quarter valued at about $35,000. R Squared Ltd purchased a new position in shares of Paymentus in the 4th quarter valued at about $43,000. Arcadia Investment Management Corp MI purchased a new position in shares of Paymentus in the 4th quarter valued at about $134,000. KLP Kapitalforvaltning AS purchased a new position in shares of Paymentus in the 4th quarter valued at about $137,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Paymentus in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Paymentus Trading Up 3.5%

Shares of Paymentus stock traded up $1.28 during mid-day trading on Monday, hitting $38.13. 557,047 shares of the stock were exchanged, compared to its average volume of 342,250. Paymentus Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $38.94. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 122.98 and a beta of 1.61. The company has a 50-day simple moving average of $28.99 and a 200 day simple moving average of $30.69.

Insiders Place Their Bets

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the firm's 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 sale, the general counsel now directly owns 94,855 shares of the company's stock, valued at approximately $3,033,462.90. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the firm'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 transaction 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. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 75.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $40.00 price target on shares of Paymentus and gave the company an "outperform" rating in a report on Tuesday, May 6th. StockNews.com raised shares of Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Robert W. Baird increased their price objective on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

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.