Quadrature Capital Ltd Takes Position in Paymentus Holdings, Inc. (NYSE:PAY)

Quadrature Capital Ltd purchased a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 30,083 shares of the business services provider’s stock, valued at approximately $537,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Paymentus by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,345,935 shares of the business services provider’s stock worth $22,343,000 after purchasing an additional 29,882 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Paymentus by 1.7% in the 3rd quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider’s stock valued at $12,418,000 after purchasing an additional 12,400 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Paymentus in the 3rd quarter valued at $11,806,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Paymentus by 53,916.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock valued at $3,475,000 after acquiring an additional 194,100 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Paymentus during the 4th quarter valued at $1,465,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAY has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price objective on shares of Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group upped their target price on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Raymond James cut shares of Paymentus from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.06.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 1,575 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.81, for a total transaction of $29,625.75. Following the completion of the transaction, the general counsel now owns 142,112 shares in the company, valued at $2,673,126.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 87.76% of the stock is currently owned by insiders.

Paymentus Stock Down 3.5 %

Shares of PAY stock opened at $18.71 on Friday. Paymentus Holdings, Inc. has a 12-month low of $9.60 and a 12-month high of $25.21. The company has a market capitalization of $2.32 billion, a P/E ratio of 81.35 and a beta of 1.47. The firm has a 50-day moving average price of $19.41 and a 200 day moving average price of $18.69.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, May 6th. The business services provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. The company had revenue of $184.88 million during the quarter, compared to the consensus estimate of $174.75 million. As a group, research analysts expect that Paymentus Holdings, Inc. will post 0.29 earnings per share for the current year.

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.