Marshall Wace LLP Boosts Position in Paymentus Holdings, Inc. (NYSE:PAY)

Marshall Wace LLP increased its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 213,862 shares of the business services provider’s stock after acquiring an additional 7,880 shares during the quarter. Marshall Wace LLP’s holdings in Paymentus were worth $6,987,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Paymentus by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock valued at $58,697,000 after purchasing an additional 273,027 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Paymentus by 23.8% during the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock valued at $28,713,000 after buying an additional 169,237 shares during the period. Invesco Ltd. lifted its holdings in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock valued at $18,931,000 after acquiring an additional 412,095 shares during the last quarter. State Street Corp lifted its holdings in Paymentus by 2.6% in the third quarter. State Street Corp now owns 300,414 shares of the business services provider’s stock valued at $6,014,000 after acquiring an additional 7,525 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Paymentus by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 222,760 shares of the business services provider’s stock worth $7,281,000 after acquiring an additional 16,620 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the sale, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Paymentus Stock Up 5.8 %

Shares of PAY opened at $30.00 on Wednesday. The company has a market cap of $3.75 billion, a P/E ratio of 96.76 and a beta of 1.65. Paymentus Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $38.94. The firm’s 50 day moving average price is $27.73 and its 200 day moving average price is $29.75.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PAY shares. Wells Fargo & Company upped their price target on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Paymentus in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Paymentus from a “hold” rating to a “sell” rating in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Robert W. Baird cut their target price on Paymentus from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Paymentus presently has an average rating of “Hold” and a consensus target price of $30.00.

About Paymentus

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.