BNP Paribas Financial Markets acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 60,829 shares of the business services provider's stock, valued at approximately $1,987,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors raised its holdings in shares of Paymentus by 25.6% during the fourth 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 last quarter. Invesco Ltd. raised its stake in Paymentus by 246.2% during the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock valued at $18,931,000 after acquiring an additional 412,095 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Paymentus during the 4th quarter worth $12,064,000. Adams Street Partners LLC bought a new position in shares of Paymentus in the fourth quarter worth $8,953,000. Finally, Vanguard Group Inc. increased its holdings in shares of Paymentus by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider's stock valued at $58,697,000 after purchasing an additional 273,027 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price objective on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a 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. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird lifted their price target on Paymentus from $30.00 to $36.00 and gave the company an "outperform" 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.00.
Get Our Latest Stock Analysis on Paymentus
Paymentus Stock Down 1.9%
Paymentus stock traded down $0.77 during mid-day trading on Wednesday, hitting $38.73. The company's stock had a trading volume of 320,368 shares, compared to its average volume of 353,414. The stock has a market capitalization of $4.85 billion, a P/E ratio of 124.94 and a beta of 1.61. Paymentus Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $40.43. The stock's fifty day moving average price is $30.55 and its two-hundred day moving average price is $31.33.
Insider Activity
In related news, Director William Ingram sold 11,409 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $38.01, for a total value of $433,656.09. Following the completion of the transaction, the director now owns 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 SEC, which is accessible through this hyperlink. 75.43% of the stock is currently owned by company insiders.
Paymentus Company Profile
(
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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