Paymentus Holdings, Inc. (NYSE:PAY) Shares Sold by Dimensional Fund Advisors LP

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

A number of other institutional investors also recently bought and sold shares of the company. Swiss National Bank raised its stake in Paymentus by 2.7% during the fourth 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 during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus in the 4th quarter valued at approximately $35,000. R Squared Ltd purchased a new stake in shares of Paymentus in the 4th quarter valued at approximately $43,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Paymentus in the 4th quarter valued at approximately $134,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Paymentus in the 4th quarter valued at approximately $137,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Stock Performance

Paymentus stock traded up $1.28 during trading hours on Monday, reaching $38.13. 557,047 shares of the stock were exchanged, compared to its average volume of 342,250. The stock has a market cap of $4.76 billion, a P/E ratio of 122.98 and a beta of 1.61. Paymentus Holdings, Inc. has a 52-week low of $16.94 and a 52-week high of $38.94. The firm's 50 day moving average is $28.99 and its 200 day moving average is $30.69.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 15,794 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares of the company's stock, valued at $14,908,459.65. This represents a 3.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company's 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 transaction, the general counsel now directly 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. 75.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.