PDT Partners LLC Raises Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

PDT Partners LLC lifted its position in Paymentus Holdings, Inc. (NYSE:PAY) by 39.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,174 shares of the business services provider’s stock after purchasing an additional 13,621 shares during the quarter. PDT Partners LLC’s holdings in Paymentus were worth $964,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PAY. nVerses Capital LLC increased its stake in Paymentus by 550.0% in 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 increased its position in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,027 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in 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 purchasing an additional 1,381 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Paymentus in the 3rd quarter worth $132,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Price Performance

PAY stock opened at $37.81 on Monday. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.76. The firm’s 50-day moving average is $26.78 and its 200 day moving average is $22.53. The company has a market capitalization of $4.71 billion, a PE ratio of 121.97 and a beta of 1.41.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. 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, November 13th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company increased their target price on shares of Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.80.

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.