Capital International Investors Buys 888,914 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Capital International Investors grew its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,362,065 shares of the business services provider's stock after buying an additional 888,914 shares during the quarter. Capital International Investors owned approximately 3.50% of Paymentus worth $142,509,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PAY. Swiss National Bank raised its stake in shares of Paymentus by 2.7% during the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock worth $1,222,000 after purchasing an additional 1,000 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Paymentus in the fourth quarter valued at approximately $35,000. R Squared Ltd bought a new stake in Paymentus in the fourth quarter worth approximately $43,000. Arcadia Investment Management Corp MI acquired a new position in shares of Paymentus during the 4th quarter worth $134,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Paymentus during the 4th quarter valued at $137,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Paymentus Trading Up 0.3 %

Shares of Paymentus stock traded up $0.09 during trading on Friday, reaching $31.23. The company's stock had a trading volume of 48,621 shares, compared to its average volume of 334,920. Paymentus Holdings, Inc. has a one year low of $16.94 and a one year high of $38.94. The stock has a 50-day moving average price of $27.71 and a two-hundred day moving average price of $29.83. The stock has a market capitalization of $3.90 billion, a P/E ratio of 100.73 and a beta of 1.65.

Analysts Set New Price Targets

Several research firms have commented on PAY. Wells Fargo & Company increased their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. The Goldman Sachs Group set a $28.00 target price on Paymentus and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. StockNews.com lowered shares of Paymentus from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. Wedbush reiterated an "outperform" rating and issued a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $30.00.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated 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. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 94,855 shares in the company, valued at approximately $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. Company 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.