Barclays PLC Increases Stock Position in Paymentus Holdings, Inc. (NYSE:PAY)

Barclays PLC grew its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 256.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,012 shares of the business services provider's stock after purchasing an additional 12,954 shares during the quarter. Barclays PLC's holdings in Paymentus were worth $588,000 as of its most recent filing with the SEC.

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Other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank grew its stake in Paymentus by 2.7% during the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock worth $1,222,000 after buying an additional 1,000 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $35,000. R Squared Ltd purchased a new stake in Paymentus in the 4th quarter valued at $43,000. Arcadia Investment Management Corp MI acquired a new stake in Paymentus during the 4th quarter worth $134,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Paymentus during the 4th quarter worth $137,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Paymentus Trading Up 4.7 %

Shares of PAY stock opened at $36.99 on Friday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 119.33 and a beta of 1.61. The firm has a 50-day moving average price of $28.79 and a 200 day moving average price of $30.53. Paymentus Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $38.94.

Insider Buying and Selling at Paymentus

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In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the transaction, the general counsel now directly owns 94,855 shares of the company's stock, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were 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 owns 466,035 shares of the company's stock, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 75.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PAY shares. Wells Fargo & Company increased their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Wedbush set a $40.00 price objective on Paymentus and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.00.

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Get Our Latest Stock Report on Paymentus

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.

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