Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY – Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,100 shares of the business services provider’s stock after selling 1,056 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paymentus were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in Paymentus during the 2nd quarter valued at about $32,000. Ridgewood Investments LLC purchased a new position in Paymentus during the 4th quarter valued at about $465,000. Bank of New York Mellon Corp increased its holdings in Paymentus by 88.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 37,493 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 17,592 shares in the last quarter. Swiss National Bank boosted its stake in shares of Paymentus by 3.9% during the 3rd quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock worth $622,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Paymentus during the 3rd quarter worth about $8,026,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.
Paymentus Stock Performance
PAY opened at $20.78 on Friday. Paymentus Holdings, Inc. has a 1 year low of $7.76 and a 1 year high of $25.21. The company’s 50 day simple moving average is $19.96 and its 200 day simple moving average is $17.69. The stock has a market capitalization of $2.58 billion, a PE ratio of 115.44 and a beta of 1.52.
Wall Street Analyst Weigh In
PAY has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group raised their price target on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Wells Fargo & Company initiated coverage on shares of Paymentus in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $17.00 price target on the stock. Finally, Raymond James cut shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paymentus currently has a consensus rating of “Hold” and a consensus price target of $17.81.
View Our Latest Stock Analysis on PAY
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.
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