41,712 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 41,712 shares of the business services provider’s stock, valued at approximately $1,363,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC increased its position in shares of Paymentus by 295.6% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 42,085 shares of the business services provider’s stock valued at $1,375,000 after buying an additional 31,446 shares in the last quarter. Swiss National Bank grew its stake in Paymentus by 2.7% in the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock valued at $1,222,000 after acquiring an additional 1,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Paymentus by 158.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 111,403 shares of the business services provider’s stock valued at $3,640,000 after acquiring an additional 68,235 shares in the last quarter. HighTower Advisors LLC acquired a new position in Paymentus during the fourth quarter worth about $591,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Paymentus in the fourth quarter valued at about $418,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paymentus

In related 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 value of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company’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 transaction, the general counsel now directly owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is owned by company insiders.

Paymentus Trading Down 2.3 %

Paymentus stock opened at $26.33 on Friday. The stock has a fifty day moving average price of $29.32 and a 200 day moving average price of $28.94. Paymentus Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $38.94. The firm has a market capitalization of $3.29 billion, a P/E ratio of 84.94 and a beta of 1.68.

Analyst Ratings Changes

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

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.