Geode Capital Management LLC Has $4.13 Million Position in Paymentus Holdings, Inc. (NYSE:PAY)

Geode Capital Management LLC grew its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,140 shares of the business services provider’s stock after purchasing an additional 5,127 shares during the quarter. Geode Capital Management LLC owned about 0.17% of Paymentus worth $4,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PAY. nVerses Capital LLC lifted its stake in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the period. Advisors Asset Management Inc. lifted its position 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 valued at $34,000 after acquiring an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus during the 3rd quarter valued at $43,000. Barclays PLC boosted its stake in 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Paymentus in the third quarter worth $132,000. Institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PAY shares. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their price objective on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company upped their target price on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird lifted their price target 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. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the transaction, the general counsel now owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 87.76% of the company’s stock.

Paymentus Trading Up 7.2 %

Shares of Paymentus stock opened at $35.00 on Monday. The company has a market capitalization of $4.36 billion, a P/E ratio of 112.90 and a beta of 1.67. The stock has a fifty day simple moving average of $32.74 and a 200 day simple moving average of $25.26. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94.

About Paymentus

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.