Jupiter Asset Management Ltd. Makes New $3.20 Million Investment in Paymentus Holdings, Inc. $PAY
Jupiter Asset Management Ltd. has invested $3.20 million in Paymentus Holdings, Inc. by purchasing 97,583 shares during the second quarter. This new position represents approximately 0.08% of Paymentus. Other institutional investors, including Vanguard Group Inc. and Driehaus Capital Management LLC, have also increased their holdings in Paymentus. Analysts have given the stock a 'Moderate Buy' rating with an average price target of $37.00. Paymentus provides cloud-based bill payment technology and solutions.
Jupiter Asset Management Ltd. purchased a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 97,583 shares of the business services provider's stock, valued at approximately $3,196,000. Jupiter Asset Management Ltd. owned approximately 0.08% of Paymentus at the end of the most recent quarter.
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Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Paymentus by 30.7% in the 1st quarter. Vanguard Group Inc. now owns 2,347,870 shares of the business services provider's stock valued at $61,279,000 after buying an additional 551,211 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Paymentus by 152.3% during the first quarter. Driehaus Capital Management LLC now owns 1,897,552 shares of the business services provider's stock valued at $49,526,000 after acquiring an additional 1,145,557 shares during the last quarter. Next Century Growth Investors LLC raised its holdings in shares of Paymentus by 5.4% during the first quarter. Next Century Growth Investors LLC now owns 1,356,980 shares of the business services provider's stock valued at $35,417,000 after acquiring an additional 69,156 shares during the last quarter. Invesco Ltd. lifted its position in shares of Paymentus by 81.5% in the first quarter. Invesco Ltd. now owns 1,051,664 shares of the business services provider's stock valued at $27,448,000 after acquiring an additional 472,205 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Paymentus by 7.7% in the first quarter. Lord Abbett & CO. LLC now owns 619,820 shares of the business services provider's stock worth $16,177,000 after acquiring an additional 44,264 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on PAY shares. Weiss Ratings reissued a "hold (c)" rating on shares of Paymentus in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. Wolfe Research upgraded shares of Paymentus from a "peer perform" rating to an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Raymond James Financial set a $38.00 price target on shares of Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $37.00.
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Check Out Our Latest Stock Report on Paymentus
Paymentus Price Performance
Shares of PAY stock opened at $37.47 on Friday. The firm's 50-day moving average is $32.48 and its two-hundred day moving average is $33.70. Paymentus Holdings, Inc. has a 12 month low of $22.65 and a 12 month high of $40.43. The company has a market capitalization of $4.69 billion, a PE ratio of 81.45 and a beta of 1.50.
Paymentus Company Profile
(Free Report)- MarketBeat Week in Review – 3/4 – 3/8
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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