Versor Investments LP Sells 6,400 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Versor Investments LP lessened its position in Paymentus Holdings, Inc. (NYSE:PAY) by 38.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,118 shares of the business services provider’s stock after selling 6,400 shares during the period. Versor Investments LP’s holdings in Paymentus were worth $331,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP raised its holdings in shares of Paymentus by 38.2% in the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after acquiring an additional 34,307 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Paymentus in the third quarter worth approximately $629,000. PDT Partners LLC lifted its holdings in shares of Paymentus by 39.4% in the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after purchasing an additional 13,621 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Paymentus by 196.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock valued at $864,000 after buying an additional 28,628 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wedbush began coverage on shares of Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Wells Fargo & Company raised their price target on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Robert W. Baird upped their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.00.

Insider Transactions at Paymentus

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the transaction, the general counsel now owns 97,925 shares in the company, valued at approximately $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares of the company’s stock, valued at $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,136 shares of company stock worth $1,883,831 in the last quarter. Insiders own 87.76% of the company’s stock.

Paymentus Stock Performance

NYSE PAY opened at $26.83 on Tuesday. The company has a market capitalization of $3.34 billion, a PE ratio of 86.56 and a beta of 1.66. Paymentus Holdings, Inc. has a 52-week low of $15.85 and a 52-week high of $38.94. The company has a 50-day simple moving average of $31.04 and a 200 day simple moving average of $28.33.

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.