Paymentus Holdings, Inc. $PAY Stock Position Increased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 191.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,570 shares of the business services provider’s stock after buying an additional 34,508 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Paymentus were worth $1,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Paymentus by 30.7% during 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 purchasing an additional 551,211 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in 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 purchasing an additional 1,145,557 shares during the last quarter. Next Century Growth Investors LLC lifted its stake in 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 purchasing an additional 69,156 shares during the last quarter. Invesco Ltd. boosted its holdings in Paymentus by 81.5% during the first quarter. Invesco Ltd. now owns 1,051,664 shares of the business services provider’s stock worth $27,448,000 after buying an additional 472,205 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in shares of Paymentus by 15.7% during the 2nd quarter. TimesSquare Capital Management LLC now owns 781,609 shares of the business services provider’s stock valued at $25,598,000 after acquiring an additional 105,997 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Stock Performance

PAY stock opened at $34.68 on Thursday. The firm has a 50 day simple moving average of $32.49 and a 200 day simple moving average of $33.78. Paymentus Holdings, Inc. has a 52 week low of $22.65 and a 52 week high of $40.43. The stock has a market cap of $4.35 billion, a P/E ratio of 75.39 and a beta of 1.50.

Analyst Upgrades and Downgrades

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

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.