Versor Investments LP Buys Shares of 16,518 Paymentus Holdings, Inc. (NYSE:PAY)

Versor Investments LP bought a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,518 shares of the business services provider’s stock, valued at approximately $331,000.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC raised its holdings in shares of Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,100 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Paymentus by 80.1% during the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,381 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Paymentus during the first quarter valued at approximately $106,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Paymentus in the third quarter valued at approximately $132,000. Institutional investors and hedge funds own 12.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price target on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday. Robert W. Baird increased their price target on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, The Goldman Sachs Group increased their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.80.

Paymentus Stock Up 2.9 %

PAY stock opened at $33.49 on Friday. The business has a fifty day moving average of $23.65 and a two-hundred day moving average of $21.32. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 108.03 and a beta of 1.41. Paymentus Holdings, Inc. has a 52-week low of $14.77 and a 52-week high of $37.00.

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.