Quest Partners LLC Acquires 20,343 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Quest Partners LLC raised its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 3,809.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,877 shares of the business services provider’s stock after acquiring an additional 20,343 shares during the period. Quest Partners LLC’s holdings in Paymentus were worth $418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Paymentus by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider’s stock valued at $31,596,000 after buying an additional 8,457 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Paymentus by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after acquiring an additional 20,767 shares in the last quarter. Millennium Management LLC increased 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 acquiring an additional 3,124 shares during the period. Cubist Systematic Strategies LLC raised its stake in Paymentus by 8.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after purchasing an additional 10,729 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Paymentus by 3.2% in the 2nd quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after purchasing an additional 4,216 shares during the period. Institutional investors and hedge funds own 12.55% of the company’s stock.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price target on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Robert W. Baird raised their target price on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Paymentus Trading Up 0.4 %

PAY stock opened at $36.44 on Monday. The stock has a market capitalization of $4.54 billion, a P/E ratio of 117.55 and a beta of 1.41. The firm has a 50-day moving average price of $25.17 and a 200-day moving average price of $21.88. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $37.00.

Paymentus Company 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.