TimesSquare Capital Management LLC Takes Position in Paymentus Holdings, Inc. (NYSE:PAY)

TimesSquare Capital Management LLC bought a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,062 shares of the business services provider’s stock, valued at approximately $35,000.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC lifted its position in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,100 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Paymentus by 155.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus during the 3rd quarter valued at $43,000. R Squared Ltd acquired a new position in shares of Paymentus during the 4th quarter valued at $43,000. Finally, Barclays PLC lifted its position in shares of Paymentus by 1,569.3% during the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 4,755 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Price Performance

Shares of PAY stock opened at $32.57 on Thursday. The company has a market cap of $4.06 billion, a P/E ratio of 105.08 and a beta of 1.66. The firm has a 50-day moving average of $32.15 and a 200-day moving average of $27.91. Paymentus Holdings, Inc. has a one year low of $14.77 and a one year high of $38.94.

Wall Street Analysts Forecast Growth

PAY has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Wedbush initiated coverage on shares of Paymentus in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company increased their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Insider Activity at Paymentus

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the 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 transaction, the chief financial officer now owns 466,035 shares of the company’s stock, valued at $14,908,459.65. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,136 shares of company stock worth $1,883,831. 87.76% of the stock is owned by company insiders.

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.