60,829 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new position in Paymentus Holdings, Inc. (NYSE:PAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 60,829 shares of the business services provider’s stock, valued at approximately $1,987,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital International Investors raised its holdings in shares of Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock worth $142,509,000 after purchasing an additional 888,914 shares in the last quarter. Vanguard Group Inc. raised its holdings in Paymentus by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock worth $58,697,000 after buying an additional 273,027 shares during the period. JPMorgan Chase & Co. raised its holdings in Paymentus by 23.8% during the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock worth $28,713,000 after buying an additional 169,237 shares during the period. Invesco Ltd. raised its holdings in Paymentus by 246.2% during the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock worth $18,931,000 after buying an additional 412,095 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Paymentus during the 4th quarter worth about $12,064,000. 78.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at $3,033,462.90. This represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Kalra sold 15,794 shares of the 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 completion of the transaction, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,273 shares of company stock worth $1,037,085 in the last 90 days. Company insiders own 75.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their price objective on Paymentus from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Wells Fargo & Company boosted their price objective on Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Robert W. Baird boosted their price objective on Paymentus from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Paymentus Price Performance

Shares of PAY opened at $38.86 on Friday. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 125.34 and a beta of 1.61. Paymentus Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $40.43. The business’s 50-day moving average is $30.14 and its 200-day moving average is $31.12.

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.