Swiss National Bank Boosts Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Swiss National Bank lifted its position in Paymentus Holdings, Inc. (NYSE:PAY) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,400 shares of the business services provider’s stock after acquiring an additional 1,000 shares during the period. Swiss National Bank’s holdings in Paymentus were worth $1,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAY. Advisors Asset Management Inc. grew its stake in Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares during the period. Cerity Partners LLC bought a new stake in shares of Paymentus during the 3rd quarter valued at $629,000. FMR LLC grew its position in shares of Paymentus by 32,191.6% in the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after buying an additional 227,273 shares during the period. PDT Partners LLC increased its stake in shares of Paymentus by 39.4% in the 3rd 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Paymentus during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Trading Down 2.3 %

Shares of PAY opened at $26.33 on Friday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 84.94 and a beta of 1.68. The business’s fifty day simple moving average is $29.32 and its two-hundred day simple moving average is $29.00. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94.

Insider Activity at Paymentus

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

Analyst Ratings Changes

A number of brokerages have weighed in on PAY. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Wells Fargo & Company raised their price objective on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. Finally, Robert W. Baird reduced their price target on Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.83.

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.