Dynamic Technology Lab Private Ltd Sells 6,822 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Dynamic Technology Lab Private Ltd lowered its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 15.2% during the third quarter, HoldingsChannel reports. The fund owned 37,929 shares of the business services provider’s stock after selling 6,822 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Paymentus were worth $759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC grew its position in Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares during the last quarter. MCF Advisors LLC grew its position in shares of Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after buying an additional 650 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,027 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Paymentus in the 1st quarter valued at about $106,000. Institutional investors own 12.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird upped their price target on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of “Hold” and an average target price of $28.80.

Paymentus Price Performance

Shares of NYSE:PAY opened at $37.93 on Friday. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 122.35 and a beta of 1.41. The business’s 50-day moving average is $26.15 and its 200-day moving average is $22.26. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.76.

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.