Advantage Alpha Capital Partners LP Acquires New Holdings in Paymentus Holdings, Inc. $PAY

Advantage Alpha Capital Partners LP bought a new position in Paymentus Holdings, Inc. (NYSE:PAY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 77,944 shares of the business services provider’s stock, valued at approximately $2,553,000. Advantage Alpha Capital Partners LP owned approximately 0.06% of Paymentus at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AlphaQuest LLC increased its holdings in shares of Paymentus by 152,600.0% in the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock worth $40,000 after purchasing an additional 1,526 shares during the period. Summit Securities Group LLC purchased a new position in Paymentus during the first quarter worth about $47,000. Advisors Asset Management Inc. increased its stake in Paymentus by 23.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock worth $90,000 after acquiring an additional 665 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Paymentus by 35.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Paymentus by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider’s stock worth $214,000 after purchasing an additional 823 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research note on Monday. Finally, Raymond James Financial set a $38.00 price objective on Paymentus and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Paymentus presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Paymentus Stock Performance

NYSE:PAY opened at $34.19 on Friday. Paymentus Holdings, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $40.43. The business has a 50 day moving average price of $32.51 and a 200-day moving average price of $33.71. The firm has a market cap of $4.29 billion, a PE ratio of 74.32 and a beta of 1.50.

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.