Quadrature Capital Ltd Has $328,000 Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Quadrature Capital Ltd lowered its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 70.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,367 shares of the business services provider’s stock after selling 38,760 shares during the quarter. Quadrature Capital Ltd’s holdings in Paymentus were worth $328,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PAY. Comerica Bank increased its holdings in shares of Paymentus by 4,713.1% during the 1st quarter. Comerica Bank now owns 20,552 shares of the business services provider’s stock worth $468,000 after purchasing an additional 20,125 shares during the period. RiverPark Advisors LLC grew its position in Paymentus by 139.1% during the second quarter. RiverPark Advisors LLC now owns 14,269 shares of the business services provider’s stock worth $271,000 after buying an additional 8,302 shares in the last quarter. Ridgewood Investments LLC increased its stake in Paymentus by 61.5% during the second quarter. Ridgewood Investments LLC now owns 42,000 shares of the business services provider’s stock valued at $798,000 after acquiring an additional 16,000 shares during the period. MCF Advisors LLC increased its stake in Paymentus by 80.1% during the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares during the period. Finally, Arcadia Investment Management Corp MI raised its holdings in Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,381 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction 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 completion of the transaction, the general counsel now owns 97,925 shares in the company, valued at approximately $3,658,478. The trade was a 25.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 87.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PAY. Robert W. Baird lifted their price objective on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group lifted their target price on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.80.

Paymentus Stock Performance

Shares of NYSE:PAY opened at $33.63 on Tuesday. The company’s fifty day moving average is $28.66 and its 200-day moving average is $23.30. Paymentus Holdings, Inc. has a 52 week low of $14.77 and a 52 week high of $38.94. The company has a market capitalization of $4.19 billion, a PE ratio of 108.48 and a beta of 1.63.

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.