Advantage Alpha Capital Partners LP Sells 40,734 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Advantage Alpha Capital Partners LP decreased its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 22.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,275 shares of the business services provider’s stock after selling 40,734 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.12% of Paymentus worth $2,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP grew its holdings in Paymentus by 38.2% during 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 period. Cerity Partners LLC acquired a new stake in Paymentus in the third quarter valued at approximately $629,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 acquiring an additional 28,628 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Paymentus during the first quarter worth approximately $513,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Paymentus by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after purchasing an additional 20,767 shares during the period. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Up 3.8 %

PAY stock opened at $37.82 on Tuesday. The business has a 50 day moving average of $25.49 and a 200-day moving average of $22.01. The firm has a market cap of $4.71 billion, a PE ratio of 122.00 and a beta of 1.41. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $37.90.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PAY. JPMorgan Chase & Co. boosted their price target 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. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on shares of Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, The Goldman Sachs Group raised their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Seven investment 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. According to MarketBeat, Paymentus currently has an average rating of “Hold” and an average target price of $28.80.

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.