Invesco Ltd. Has $18.93 Million Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Invesco Ltd. grew its position in Paymentus Holdings, Inc. (NYSE:PAY) by 246.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 579,459 shares of the business services provider’s stock after purchasing an additional 412,095 shares during the quarter. Invesco Ltd. owned about 0.46% of Paymentus worth $18,931,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of Paymentus by 374.5% during the 4th quarter. Wells Fargo & Company MN now owns 39,633 shares of the business services provider’s stock valued at $1,295,000 after acquiring an additional 31,280 shares during the period. Geode Capital Management LLC grew its position in Paymentus by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 222,760 shares of the business services provider’s stock valued at $7,281,000 after acquiring an additional 16,620 shares during the last quarter. Norges Bank bought a new stake in Paymentus during the 4th quarter worth approximately $3,091,000. JPMorgan Chase & Co. increased its position in Paymentus by 23.8% in the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider’s stock valued at $28,713,000 after acquiring an additional 169,237 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of Paymentus during the fourth quarter valued at $205,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Price Performance

NYSE:PAY opened at $29.02 on Friday. The company has a market cap of $3.63 billion, a P/E ratio of 93.60 and a beta of 1.65. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94. The stock’s fifty day moving average price is $27.78 and its two-hundred day moving average price is $29.63.

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the sale, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This represents a 3.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were 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 trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on PAY shares. The Goldman Sachs Group set a $28.00 price objective on Paymentus and gave the company a “neutral” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Paymentus in a research note on Wednesday, March 12th. StockNews.com lowered shares of Paymentus from a “hold” rating to a “sell” rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.00.

Paymentus 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.