Sei Investments Co. Acquires New Shares in Paymentus Holdings, Inc. (NYSE:PAY)

Sei Investments Co. bought a new position in Paymentus Holdings, Inc. (NYSE:PAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 18,503 shares of the business services provider’s stock, valued at approximately $604,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PAY. Swiss National Bank boosted its stake in shares of Paymentus by 2.7% in the fourth quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock worth $1,222,000 after acquiring an additional 1,000 shares during the period. TimesSquare Capital Management LLC bought a new position in Paymentus in the fourth quarter worth approximately $35,000. R Squared Ltd bought a new stake in shares of Paymentus in the fourth quarter valued at about $43,000. XTX Topco Ltd boosted its stake in shares of Paymentus by 17.2% during the third quarter. XTX Topco Ltd now owns 20,905 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 3,064 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in shares of Paymentus in the 4th quarter worth $134,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

Shares of PAY opened at $27.30 on Thursday. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94. The stock has a market capitalization of $3.41 billion, a P/E ratio of 88.06 and a beta of 1.65. The company’s fifty day moving average is $28.28 and its two-hundred day moving average is $29.24.

Insider Transactions at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now directly owns 94,855 shares in the company, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PAY shares. Robert W. Baird dropped their price target on Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. StockNews.com downgraded shares of Paymentus from a “hold” rating to a “sell” rating in a report on Friday, April 4th. The Goldman Sachs Group set a $28.00 price target on shares of Paymentus and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company increased their price objective on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price target on Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.00.

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.