Sei Investments Co. Makes New $604,000 Investment in Paymentus Holdings, Inc. (NYSE:PAY)

Sei Investments Co. bought a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,503 shares of the business services provider's stock, valued at approximately $604,000.

A number of other large investors also recently modified their holdings of the company. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $35,000. R Squared Ltd acquired a new stake in shares of Paymentus in the fourth quarter valued at approximately $43,000. Barclays PLC grew its position in shares of Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock worth $101,000 after acquiring an additional 4,755 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Paymentus during the 4th quarter worth $134,000. Finally, Point72 Asset Management L.P. grew its position in Paymentus by 1,305.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,600 shares of the business services provider's stock worth $192,000 after purchasing an additional 8,917 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the sale, the general counsel now owns 94,855 shares of the company's stock, valued at $3,033,462.90. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by company insiders.

Paymentus Stock Up 2.5 %

Shares of Paymentus stock traded up $0.69 on Tuesday, hitting $28.69. The company's stock had a trading volume of 15,918 shares, compared to its average volume of 330,205. The firm has a fifty day moving average price of $28.00 and a 200-day moving average price of $29.44. Paymentus Holdings, Inc. has a 52-week low of $16.94 and a 52-week high of $38.94. The company has a market capitalization of $3.59 billion, a P/E ratio of 92.55 and a beta of 1.65.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Wedbush reaffirmed an "outperform" rating and set a $38.00 price target on shares of Paymentus in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company increased their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Finally, StockNews.com downgraded Paymentus from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $30.00.

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.