Versor Investments LP Sells 6,400 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Versor Investments LP cut its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 38.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,118 shares of the business services provider’s stock after selling 6,400 shares during the quarter. Versor Investments LP’s holdings in Paymentus were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAY. Bank of New York Mellon Corp boosted its position in Paymentus by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 39,832 shares of the business services provider’s stock valued at $1,301,000 after buying an additional 4,571 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Paymentus by 24.6% during the 4th quarter. Navellier & Associates Inc. now owns 86,524 shares of the business services provider’s stock valued at $2,827,000 after acquiring an additional 17,061 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Paymentus during the 4th quarter worth $134,000. TimesSquare Capital Management LLC acquired a new position in Paymentus in the 4th quarter worth about $35,000. Finally, D.A. Davidson & CO. acquired a new position in Paymentus in the 4th quarter worth about $328,000. Institutional investors own 78.38% of the company’s stock.

Insider Activity

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business’s 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 transaction, the chief financial officer now directly owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the firm’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 sale, the general counsel now directly owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,136 shares of company stock valued at $1,883,831 in the last ninety days. 87.76% of the stock is owned by company insiders.

Paymentus Stock Down 2.1 %

PAY stock opened at $26.83 on Tuesday. The company’s fifty day simple moving average is $31.04 and its 200 day simple moving average is $28.33. Paymentus Holdings, Inc. has a 12-month low of $15.85 and a 12-month high of $38.94. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 86.56 and a beta of 1.66.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their price target on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wedbush started coverage on shares of Paymentus in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.