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

Algert Global LLC lowered its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 128,793 shares of the business services provider’s stock after selling 6,263 shares during the quarter. Algert Global LLC’s holdings in Paymentus were worth $2,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after buying an additional 34,307 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Paymentus during the third quarter valued at approximately $629,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after purchasing an additional 28,628 shares in the last quarter. Sei Investments Co. acquired a new stake in Paymentus in the first quarter worth approximately $513,000. Finally, Dimensional Fund Advisors LP boosted its stake in Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after purchasing an additional 20,767 shares in the last quarter. Institutional investors own 12.55% of the company’s stock.

Paymentus Price Performance

PAY stock opened at $38.09 on Wednesday. The firm has a market capitalization of $4.75 billion, a P/E ratio of 123.58 and a beta of 1.41. Paymentus Holdings, Inc. has a 52-week low of $14.77 and a 52-week high of $38.76. The company’s 50 day simple moving average is $25.49 and its 200-day simple moving average is $22.01.

Analyst Ratings Changes

Several analysts have recently weighed in on PAY shares. Wells Fargo & Company upped 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. Robert W. Baird boosted their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their target price on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.