Paymentus Holdings, Inc. (NYSE:PAY) Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,793 shares of the business services provider’s stock after selling 6,263 shares during the period. Algert Global LLC owned 0.10% of Paymentus worth $2,578,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 8,457 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 20,767 shares during the last quarter. Millennium Management LLC raised its stake in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after buying an additional 3,124 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after buying an additional 10,729 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of Paymentus by 38.2% in the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after acquiring an additional 34,307 shares in the last quarter. 12.55% of the stock is currently owned by institutional investors.

Paymentus Stock Up 0.7 %

Paymentus stock opened at $38.09 on Wednesday. Paymentus Holdings, Inc. has a 52-week low of $14.77 and a 52-week high of $38.76. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 123.58 and a beta of 1.41. The firm has a 50-day moving average price of $25.49 and a two-hundred day moving average price of $22.01.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Wells Fargo & Company increased their price objective on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Paymentus currently has a consensus rating of “Hold” and a consensus price target of $28.80.

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.