Paymentus Holdings, Inc. (NYSE:PAY) Stock Position Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 8.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 76,577 shares of the business services provider’s stock after selling 7,265 shares during the period. New York State Common Retirement Fund owned 0.06% of Paymentus worth $2,502,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PAY. Versor Investments LP acquired a new position in shares of Paymentus during the 3rd quarter valued at about $331,000. GSA Capital Partners LLP increased its holdings in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock valued at $2,486,000 after acquiring an additional 34,307 shares during the last quarter. RiverPark Advisors LLC increased its holdings in shares of Paymentus by 8.8% during the 3rd quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider’s stock valued at $311,000 after acquiring an additional 1,258 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Paymentus by 3,809.6% during the 3rd quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 20,343 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Paymentus by 196.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after acquiring an additional 28,628 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Transactions at Paymentus

In other news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the sale, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,136 shares of company stock valued at $1,883,831. 87.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wedbush began coverage on Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Paymentus Trading Down 0.7 %

Shares of NYSE:PAY opened at $27.30 on Friday. Paymentus Holdings, Inc. has a 1-year low of $15.46 and a 1-year high of $38.94. The firm has a market capitalization of $3.40 billion, a PE ratio of 88.06 and a beta of 1.66. The business’s 50 day moving average is $31.17 and its 200-day moving average is $28.26.

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.