Yorktown Management & Research Co Inc acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,800 shares of the business services provider's stock, valued at approximately $282,000.
A number of other large investors have also recently added to or reduced their stakes in PAY. Capital International Investors lifted its holdings in Paymentus by 25.6% in 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 acquiring an additional 888,914 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Paymentus in the fourth quarter valued at approximately $24,568,000. Invesco Ltd. raised its position in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock valued at $18,931,000 after purchasing an additional 412,095 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Paymentus in the fourth quarter valued at approximately $12,064,000. Finally, Adams Street Partners LLC purchased a new stake in Paymentus in the fourth quarter valued at approximately $8,953,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Paymentus Stock Performance
PAY stock traded down $1.52 during mid-day trading on Friday, reaching $32.20. The company had a trading volume of 587,864 shares, compared to its average volume of 405,849. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 82.56 and a beta of 1.65. The firm has a fifty day simple moving average of $35.20 and a 200 day simple moving average of $31.74. Paymentus Holdings, Inc. has a fifty-two week low of $17.70 and a fifty-two week high of $40.43.
Analyst Ratings Changes
PAY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wells Fargo & Company boosted their target price 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 target price on Paymentus and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Robert W. Baird boosted their target price on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group boosted their target price on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Paymentus presently has a consensus rating of "Moderate Buy" and an average price target of $36.80.
View Our Latest Stock Analysis on Paymentus
Insider Buying and Selling at Paymentus
In other Paymentus news, Director William Ingram sold 11,409 shares of the 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 sale, the director now owns 73,963 shares of the company's stock, valued at $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 available at this link. 75.43% of the stock is owned by corporate 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.
Further Reading
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