Calamos Advisors LLC Acquires New Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Calamos Advisors LLC purchased a new position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,311 shares of the business services provider's stock, valued at approximately $478,000.

Several other large investors also recently bought and sold shares of PAY. Lisanti Capital Growth LLC acquired a new position in shares of Paymentus during the 1st quarter worth $3,423,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Paymentus by 2,763.9% in the first 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. Bessemer Group Inc. purchased a new stake in shares of Paymentus in the first quarter valued at about $108,000. Yorktown Management & Research Co Inc acquired a new stake in shares of Paymentus in the first quarter valued at approximately $282,000. Finally, SG Americas Securities LLC increased its stake in shares of Paymentus by 103.6% during the 1st quarter. SG Americas Securities LLC now owns 14,077 shares of the business services provider's stock worth $367,000 after purchasing an additional 7,163 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Insider Buying and Selling at Paymentus

In other news, Director William Ingram sold 11,409 shares of Paymentus stock in a transaction dated 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 directly owned 73,963 shares of the company's stock, valued at $2,811,333.63. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 87.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PAY. Wells Fargo & Company upped their target price on Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upped their target price on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Paymentus from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Robert W. Baird boosted their price objective on shares of Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Paymentus has a consensus rating of "Moderate Buy" and an average price target of $36.80.

Paymentus Trading Down 0.6%

PAY traded down $0.18 during midday trading on Monday, hitting $30.86. The company's stock had a trading volume of 916,298 shares, compared to its average volume of 416,350. Paymentus Holdings, Inc. has a 52-week low of $17.70 and a 52-week high of $40.43. The firm has a 50-day moving average price of $35.38 and a two-hundred day moving average price of $31.61. The firm has a market cap of $3.86 billion, a P/E ratio of 79.13 and a beta of 1.56.

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.