nVerses Capital LLC boosted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY – Free Report) by 550.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,300 shares of the business services provider’s stock after purchasing an additional 1,100 shares during the quarter. nVerses Capital LLC’s holdings in Paymentus were worth $26,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Paymentus during the 3rd quarter valued at $132,000. Cubist Systematic Strategies LLC raised its position in shares of Paymentus by 8.5% during the second quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after buying an additional 10,729 shares during the last quarter. Algert Global LLC lifted its stake in shares of Paymentus by 3.2% in the second quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after buying an additional 4,216 shares during the period. Millennium Management LLC grew its position in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after buying an additional 3,124 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Paymentus during the second quarter valued at about $233,000. Institutional investors and hedge funds own 12.55% of the company’s stock.
Paymentus Trading Down 2.3 %
Shares of Paymentus stock opened at $24.36 on Thursday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 97.44 and a beta of 1.46. The firm’s 50-day moving average price is $22.15 and its two-hundred day moving average price is $20.53. Paymentus Holdings, Inc. has a 1-year low of $14.17 and a 1-year high of $27.06.
Wall Street Analyst Weigh In
PAY has been the topic of several recent research reports. Robert W. Baird lifted their price objective on Paymentus from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group increased their price target on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.31.
Read Our Latest Analysis on Paymentus
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.
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