Algert Global LLC lifted its position in Paymentus Holdings, Inc. (NYSE:PAY – Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,056 shares of the business services provider’s stock after buying an additional 4,216 shares during the quarter. Algert Global LLC owned about 0.11% of Paymentus worth $2,566,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Paymentus by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider’s stock worth $31,596,000 after acquiring an additional 8,457 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Paymentus by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after buying an additional 20,767 shares during the last quarter. Millennium Management LLC raised its holdings in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after buying an additional 3,124 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Paymentus by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock worth $4,699,000 after buying an additional 1,141 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after acquiring an additional 10,729 shares in the last quarter. Institutional investors and hedge funds own 12.55% of the company’s stock.
Paymentus Price Performance
Shares of Paymentus stock opened at $20.82 on Wednesday. Paymentus Holdings, Inc. has a 52-week low of $14.17 and a 52-week high of $25.21. The firm has a market capitalization of $2.59 billion, a PE ratio of 90.52 and a beta of 1.47. The company’s fifty day moving average price is $21.43 and its two-hundred day moving average price is $20.48.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PAY shares. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, The Goldman Sachs Group raised their price target on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research report on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.19.
View Our Latest Report on Paymentus
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.
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