Teacher Retirement System of Texas Makes New $1.36 Million Investment in Paymentus Holdings, Inc. (NYSE:PAY)

Teacher Retirement System of Texas bought a new stake in Paymentus Holdings, Inc. (NYSE:PAY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,712 shares of the business services provider’s stock, valued at approximately $1,363,000.

A number of other hedge funds have also recently modified their holdings of PAY. Swiss National Bank boosted its stake in Paymentus by 2.7% in the fourth quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock valued at $1,222,000 after acquiring an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Paymentus in the 4th quarter valued at about $35,000. R Squared Ltd acquired a new stake in shares of Paymentus in the 4th quarter valued at about $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Paymentus during the 3rd quarter worth approximately $43,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Stock Performance

PAY stock opened at $26.33 on Friday. Paymentus Holdings, Inc. has a one year low of $16.94 and a one year high of $38.94. The company has a fifty day moving average of $29.32 and a 200-day moving average of $28.94. The stock has a market capitalization of $3.29 billion, a PE ratio of 84.94 and a beta of 1.68.

Insider Activity at Paymentus

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAY shares. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price target 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 dropped their price objective on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company boosted their price target on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.83.

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.