Cubist Systematic Strategies LLC grew its stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 70.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,844 shares of the business services provider's stock after acquiring an additional 81,058 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.16% of Paymentus worth $6,431,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Capital International Investors grew its holdings in Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock valued at $142,509,000 after buying an additional 888,914 shares during the period. Invesco Ltd. raised its stake in Paymentus by 246.2% during the fourth 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 during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Paymentus in the 4th quarter valued at $12,064,000. Adams Street Partners LLC purchased a new stake in shares of Paymentus during the 4th quarter valued at $8,953,000. Finally, Vanguard Group Inc. grew its stake 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 valued at $58,697,000 after buying an additional 273,027 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.
Paymentus Stock Performance
Shares of NYSE PAY traded down $0.17 during midday trading on Tuesday, reaching $38.03. 418,752 shares of the company's stock were exchanged, compared to its average volume of 342,555. Paymentus Holdings, Inc. has a 52-week low of $16.94 and a 52-week high of $38.94. The business's fifty day moving average price is $29.24 and its two-hundred day moving average price is $30.79. The stock has a market capitalization of $4.75 billion, a PE ratio of 122.68 and a beta of 1.61.
Insider Transactions at Paymentus
In related news, CFO Sanjay Kalra sold 15,794 shares of the business's 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 of the company's stock, valued at $14,908,459.65. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Ingram sold 11,409 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $38.01, for a total value of $433,656.09. Following the transaction, the director now directly owns 73,963 shares in the company, valued at approximately $2,811,333.63. This represents a 13.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,273 shares of company stock valued at $1,037,085. 75.43% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $40.00 target price on Paymentus and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company raised their price target on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Robert W. Baird lifted their target price on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.00.
Read Our Latest Research Report on PAY
About Paymentus
(
Free Report)
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.
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