Paymentus Holdings, Inc. (NYSE:PAY) Shares Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its position in Paymentus Holdings, Inc. (NYSE:PAY) by 295.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,085 shares of the business services provider’s stock after buying an additional 31,446 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Paymentus were worth $1,375,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC increased its stake in Paymentus by 8.8% during the third quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider’s stock worth $311,000 after acquiring an additional 1,258 shares during the last quarter. Quest Partners LLC raised its stake in Paymentus by 3,809.6% in the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock valued at $418,000 after buying an additional 20,343 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after purchasing an additional 28,628 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,027 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Paymentus in the 3rd quarter valued at about $629,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com cut Paymentus from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Wells Fargo & Company boosted their target price on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.83.

Insiders Place Their Bets

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company’s stock, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Paymentus Stock Up 1.2 %

NYSE:PAY opened at $29.58 on Monday. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94. The company’s 50 day moving average is $30.01 and its 200-day moving average is $28.63. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 95.42 and a beta of 1.68.

About Paymentus

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.