Teacher Retirement System of Texas Sells 26,721 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Teacher Retirement System of Texas cut its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 64.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,991 shares of the business services provider's stock after selling 26,721 shares during the period. Teacher Retirement System of Texas' holdings in Paymentus were worth $391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in Paymentus during the 4th quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 1,990 shares during the period. Deutsche Bank AG purchased a new position in shares of Paymentus during the 4th quarter valued at $73,000. Bessemer Group Inc. purchased a new position in Paymentus in the first quarter worth $108,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Paymentus in the fourth quarter worth $137,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paymentus

In other news, Director William Ingram sold 11,409 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the transaction, the director directly owned 73,963 shares in the company, valued at $2,811,333.63. This trade represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 75.43% of the company's stock.

Paymentus Price Performance

NYSE:PAY opened at $29.57 on Friday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 75.81 and a beta of 1.56. Paymentus Holdings, Inc. has a 1-year low of $17.70 and a 1-year high of $40.43. The company's fifty day moving average price is $34.60 and its 200-day moving average price is $31.41.

Analysts Set New Price Targets

Several equities analysts have recently commented on PAY shares. The Goldman Sachs Group upped their price objective 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. Wedbush set a $40.00 price target on shares of Paymentus and gave the company an "outperform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Robert W. Baird raised 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. Finally, Wells Fargo & Company lifted their price target on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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