Paymentus Holdings, Inc. $PAY Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 26.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 193,406 shares of the business services provider’s stock after acquiring an additional 40,498 shares during the period. New York State Common Retirement Fund owned approximately 0.15% of Paymentus worth $5,918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cliffwater LLC acquired a new position in shares of Paymentus in the 2nd quarter valued at $124,000. Advisors Asset Management Inc. raised its position in shares of Paymentus by 11.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock worth $126,000 after buying an additional 403 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Paymentus by 35.7% in the second 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 during the last quarter. Vident Advisory LLC acquired a new position in Paymentus in the second quarter valued at $204,000. Finally, Bayesian Capital Management LP purchased a new stake in Paymentus during the second quarter valued at about $226,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

PAY has been the topic of a number of research reports. Wall Street Zen downgraded Paymentus from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Paymentus Trading Down 3.1%

Shares of PAY stock opened at $24.35 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of 52.94 and a beta of 1.49. The firm has a fifty day simple moving average of $30.61 and a 200-day simple moving average of $32.38. Paymentus Holdings, Inc. has a twelve month low of $22.65 and a twelve month high of $40.43.

Paymentus Company Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.