PDT Partners LLC Buys 13,621 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

PDT Partners LLC increased its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 39.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,174 shares of the business services provider’s stock after purchasing an additional 13,621 shares during the quarter. PDT Partners LLC’s holdings in Paymentus were worth $964,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PAY. nVerses Capital LLC raised its holdings in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares in the last quarter. MCF Advisors LLC grew its position in shares of Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,027 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,381 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Paymentus in the third quarter valued at approximately $132,000. Institutional investors own 12.55% of the company’s stock.

Paymentus Trading Down 0.3 %

Shares of NYSE PAY opened at $37.81 on Monday. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 121.97 and a beta of 1.41. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.76. The company has a 50 day simple moving average of $26.78 and a two-hundred day simple moving average of $22.53.

Analyst Upgrades and Downgrades

PAY has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. The Goldman Sachs Group raised their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Robert W. Baird increased their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.80.

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.