RiverPark Advisors LLC Cuts Stock Holdings in Paymentus Holdings, Inc. $PAY

RiverPark Advisors LLC cut its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 32.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,172 shares of the business services provider’s stock after selling 4,473 shares during the period. RiverPark Advisors LLC’s holdings in Paymentus were worth $300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC boosted its holdings in Paymentus by 152,600.0% in the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 1,526 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Paymentus in the 1st quarter valued at about $47,000. Advisors Asset Management Inc. grew its holdings in shares of Paymentus by 23.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock worth $90,000 after purchasing an additional 665 shares during the period. KLP Kapitalforvaltning AS increased its position in Paymentus by 35.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock worth $187,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Paymentus by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider’s stock valued at $214,000 after buying an additional 823 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Price Performance

PAY opened at $34.23 on Wednesday. The firm’s fifty day moving average price is $32.54 and its 200 day moving average price is $33.70. The stock has a market capitalization of $4.29 billion, a PE ratio of 74.42 and a beta of 1.50. Paymentus Holdings, Inc. has a 12-month low of $22.65 and a 12-month high of $40.43.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PAY shares. Raymond James Financial set a $38.00 price objective on shares of Paymentus and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Paymentus presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.