Barclays PLC Boosts Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Barclays PLC boosted its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 1,569.3% in the third quarter, Holdings Channel reports. The institutional investor owned 5,058 shares of the business services provider’s stock after acquiring an additional 4,755 shares during the period. Barclays PLC’s holdings in Paymentus were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Paymentus by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after buying an additional 20,767 shares during the period. State Street Corp lifted its holdings in Paymentus by 2.6% during the third quarter. State Street Corp now owns 300,414 shares of the business services provider’s stock worth $6,014,000 after buying an additional 7,525 shares during the period. Millennium Management LLC lifted its holdings in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after buying an additional 3,124 shares during the period. FMR LLC lifted its holdings in Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after buying an additional 227,273 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in Paymentus by 8.5% during the second 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 period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PAY. The Goldman Sachs Group increased their price objective on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Robert W. Baird increased their price objective on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company increased their price objective on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Paymentus currently has an average rating of “Hold” and an average target price of $28.80.

Paymentus Price Performance

NYSE PAY opened at $31.71 on Thursday. The stock’s fifty day moving average price is $33.18 and its 200 day moving average price is $25.49. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.94. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 102.29 and a beta of 1.67.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 87.76% of the stock is owned by insiders.

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.