Lisanti Capital Growth LLC Acquires Shares of 131,135 Paymentus Holdings, Inc. (NYSE:PAY)

Lisanti Capital Growth LLC bought a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 131,135 shares of the business services provider's stock, valued at approximately $3,423,000. Lisanti Capital Growth LLC owned approximately 0.10% of Paymentus at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Paymentus by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider's stock valued at $510,000 after acquiring an additional 484 shares during the period. Cetera Investment Advisers boosted its holdings in Paymentus by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock valued at $434,000 after purchasing an additional 883 shares during the period. Park Square Financial Group LLC bought a new position in Paymentus in the 4th quarter valued at $32,000. Swiss National Bank grew its position 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 valued at $1,222,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Paymentus by 2,763.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock valued at $54,000 after purchasing an additional 1,990 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Paymentus Price Performance

PAY stock traded down $1.04 during mid-day trading on Wednesday, hitting $31.16. 558,907 shares of the stock were exchanged, compared to its average volume of 411,301. The business has a fifty day moving average price of $35.34 and a 200 day moving average price of $31.70. Paymentus Holdings, Inc. has a 12 month low of $17.70 and a 12 month high of $40.43. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 79.90 and a beta of 1.57.

Insider Activity

In related news, Director William Ingram sold 11,409 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $38.01, for a total transaction of $433,656.09. Following the transaction, the director owned 73,963 shares of the company's stock, valued at approximately $2,811,333.63. This trade represents a 13.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 87.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Paymentus from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Robert W. Baird raised their price target on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wedbush set a $40.00 price objective on Paymentus and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their target price on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five research 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, Paymentus presently has a consensus rating of "Moderate Buy" and an average target price of $36.80.

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.