Barclays PLC Acquires 4,755 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Barclays PLC grew its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 1,569.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,058 shares of the business services provider’s stock after acquiring an additional 4,755 shares during the quarter. Barclays PLC’s holdings in Paymentus were worth $101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP increased its stake in Paymentus by 38.2% in the third quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 34,307 shares during the period. Cerity Partners LLC purchased a new stake in shares of Paymentus during the third quarter worth about $629,000. PDT Partners LLC grew its stake in shares of Paymentus by 39.4% during the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after acquiring an additional 13,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Paymentus by 196.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after buying an additional 28,628 shares during the last quarter. Finally, FMR LLC boosted its position in Paymentus by 32,191.6% in the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock valued at $4,564,000 after buying an additional 227,273 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Price Performance

PAY stock opened at $30.61 on Friday. The firm has a market capitalization of $3.81 billion, a P/E ratio of 98.74 and a beta of 1.67. The business’s 50-day moving average is $33.93 and its two-hundred day moving average is $26.35. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.94.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction dated 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 sale, the general counsel now owns 97,925 shares of the company’s stock, valued at $3,658,478. This trade represents a 25.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 87.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PAY has been the subject of several research analyst reports. Robert W. Baird upped their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their target price on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.00.

Paymentus 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.