Dimensional Fund Advisors LP Cuts Stock Position in Paymentus Holdings, Inc. (NYSE:PAY)

Dimensional Fund Advisors LP lowered its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,862 shares of the business services provider's stock after selling 24,292 shares during the period. Dimensional Fund Advisors LP owned 0.40% of Paymentus worth $16,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider's stock valued at $14,207,000 after acquiring an additional 81,853 shares during the last quarter. Legal & General Group Plc increased its stake in Paymentus by 40.1% in the 4th quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider's stock worth $622,000 after acquiring an additional 5,452 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Paymentus in the fourth quarter valued at $215,000. Barclays PLC grew its stake in shares of Paymentus by 1,569.3% in the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock worth $101,000 after buying an additional 4,755 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Paymentus in the 4th quarter worth about $1,363,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the sale, the general counsel now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,273 shares of company stock valued at $1,037,085 in the last three months. Company insiders own 75.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company lifted their price target on Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wedbush set a $40.00 target price on shares of Paymentus and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

Paymentus Price Performance

Shares of NYSE:PAY traded up $0.03 on Wednesday, hitting $38.20. 102,303 shares of the company's stock were exchanged, compared to its average volume of 466,528. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 123.03 and a beta of 1.61. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94. The business's 50 day simple moving average is $29.48 and its two-hundred day simple moving average is $30.84.

Paymentus Company 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.