Calamos Advisors LLC Takes Position in Paymentus Holdings, Inc. (NYSE:PAY)

Calamos Advisors LLC acquired a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,311 shares of the business services provider's stock, valued at approximately $478,000.

Several other institutional investors also recently bought and sold shares of PAY. Bank of New York Mellon Corp increased its holdings in Paymentus by 13.0% during the fourth quarter. Bank of New York Mellon Corp now owns 39,832 shares of the business services provider's stock valued at $1,301,000 after buying an additional 4,571 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in Paymentus during the fourth quarter valued at approximately $286,000. Victory Capital Management Inc. purchased a new position in Paymentus in the fourth quarter worth $215,000. Raymond James Financial Inc. purchased a new position in Paymentus in the fourth quarter worth $3,109,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Paymentus in the fourth quarter worth $273,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paymentus

In other news, Director William Ingram sold 11,409 shares of the 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 sale, the director owned 73,963 shares of the company's stock, valued at $2,811,333.63. This represents a 13.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 75.43% of the stock is currently owned by company insiders.

Paymentus Trading Down 0.1%

PAY stock traded down $0.03 during mid-day trading on Wednesday, reaching $30.43. The company's stock had a trading volume of 566,562 shares, compared to its average volume of 419,076. The company's 50 day moving average is $35.26 and its two-hundred day moving average is $31.57. Paymentus Holdings, Inc. has a fifty-two week low of $17.70 and a fifty-two week high of $40.43. The stock has a market cap of $3.81 billion, a PE ratio of 78.03 and a beta of 1.56.

Analyst Upgrades and Downgrades

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

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.