Dynamic Technology Lab Private Ltd Sells 6,822 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Dynamic Technology Lab Private Ltd trimmed its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 15.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,929 shares of the business services provider’s stock after selling 6,822 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Paymentus were worth $759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAY. nVerses Capital LLC boosted its stake in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares during the period. MCF Advisors LLC boosted its stake 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 worth $28,000 after acquiring an additional 650 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,027 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in Paymentus by 141.1% during the 2nd 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 last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Paymentus during the 1st quarter worth approximately $106,000. 12.55% of the stock is currently owned by institutional investors.

Paymentus Price Performance

Shares of NYSE PAY opened at $37.93 on Friday. The stock has a market capitalization of $4.73 billion, a PE ratio of 122.35 and a beta of 1.41. The business has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $22.26. Paymentus Holdings, Inc. has a fifty-two week low of $14.77 and a fifty-two week high of $38.76.

Analysts Set New Price Targets

Several analysts recently weighed in on PAY shares. Wells Fargo & Company lifted their price target on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Robert W. Baird lifted their price target on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group cut Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.80.

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.