Swiss National Bank Acquires 1,000 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Swiss National Bank grew its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 2.7% during the 4th quarter, Holdings Channel reports. The fund owned 37,400 shares of the business services provider’s stock after buying 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. increased its stake in shares of Paymentus by 155.1% in the 3rd 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 in the last quarter. Cerity Partners LLC bought a new stake in Paymentus during the third quarter valued at about $629,000. FMR LLC increased 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 worth $4,564,000 after buying an additional 227,273 shares in the last quarter. PDT Partners LLC raised its stake in shares of Paymentus by 39.4% in the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after buying an additional 13,621 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Paymentus in the third quarter worth about $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Insider Buying and Selling at Paymentus

In other Paymentus 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 value of $505,250.06. Following the sale, the chief financial officer now owns 466,035 shares of the company’s stock, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Analyst Ratings Changes

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

Paymentus Stock Performance

PAY opened at $26.33 on Friday. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 84.94 and a beta of 1.68. The company has a fifty day moving average of $29.32 and a 200 day moving average of $29.00. Paymentus Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $38.94.

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.