Connor Clark & Lunn Investment Management Ltd. Has $864,000 Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 196.9% during the third quarter, Holdings Channel.com reports. The firm owned 43,168 shares of the business services provider’s stock after buying an additional 28,628 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paymentus were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP increased its position in 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 during the period. Dimensional Fund Advisors LP grew its stake in shares of Paymentus by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after acquiring an additional 20,767 shares in the last quarter. Quest Partners LLC increased its position in Paymentus by 3,809.6% during the third quarter. Quest Partners LLC now owns 20,877 shares of the business services provider’s stock worth $418,000 after acquiring an additional 20,343 shares during the period. Comerica Bank boosted its holdings in Paymentus by 4,713.1% in the 1st quarter. Comerica Bank now owns 20,552 shares of the business services provider’s stock valued at $468,000 after purchasing an additional 20,125 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Paymentus during the 2nd quarter worth approximately $339,000. 12.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their price target on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Seven research 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. Based on data from MarketBeat.com, Paymentus currently has an average rating of “Hold” and a consensus price target of $28.80.

Paymentus Stock Down 0.4 %

NYSE:PAY opened at $37.93 on Thursday. The firm has a market capitalization of $4.73 billion, a PE ratio of 120.90 and a beta of 1.41. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $38.76. The stock’s 50-day simple moving average is $25.82 and its 200 day simple moving average is $22.15.

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.