Quest Partners LLC Has $418,000 Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Quest Partners LLC grew its position in Paymentus Holdings, Inc. (NYSE:PAY) by 3,809.6% during the third quarter, HoldingsChannel reports. The firm owned 20,877 shares of the business services provider’s stock after buying 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.

Several other large investors also recently modified their holdings of PAY. nVerses Capital LLC lifted its holdings in Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the period. MCF Advisors LLC boosted its position in shares of Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 650 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares during the period. Russell Investments Group Ltd. bought a new stake in Paymentus in the first quarter worth approximately $106,000. Finally, SG Americas Securities LLC acquired a new position in Paymentus in the third quarter valued at approximately $132,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAY has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price target on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.80.

Paymentus Stock Performance

Shares of NYSE PAY opened at $36.44 on Monday. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 117.55 and a beta of 1.41. Paymentus Holdings, Inc. has a fifty-two week low of $14.77 and a fifty-two week high of $37.00. The firm’s 50-day simple moving average is $25.17 and its 200 day simple moving average is $21.88.

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.