Connor Clark & Lunn Investment Management Ltd. Purchases 28,628 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 196.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,168 shares of the business services provider’s stock after buying an additional 28,628 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paymentus were worth $864,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PAY. nVerses Capital LLC boosted its stake in Paymentus by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the period. MCF Advisors LLC grew its holdings in shares of Paymentus by 80.1% during the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Paymentus in the 1st quarter valued at approximately $106,000. Finally, SG Americas Securities LLC acquired a new position in Paymentus during the 3rd quarter worth approximately $132,000. Institutional investors own 12.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Robert W. Baird increased their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.80.

Paymentus Trading Down 0.4 %

Shares of NYSE PAY opened at $37.93 on Thursday. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.76. The stock has a 50 day moving average of $25.82 and a 200-day moving average of $22.15. The company has a market capitalization of $4.73 billion, a P/E ratio of 120.90 and a beta of 1.41.

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.