Paymentus Holdings, Inc. (NYSE:PAY) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 1,305.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,600 shares of the business services provider’s stock after buying an additional 8,917 shares during the period. Point72 Asset Management L.P.’s holdings in Paymentus were worth $192,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. nVerses Capital LLC boosted its position in Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,027 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Paymentus in the third quarter valued at approximately $43,000. Finally, Arcadia Investment Management Corp MI lifted its position in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after buying an additional 1,381 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. This represents a 25.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 87.76% of the company’s stock.

Paymentus Stock Down 1.7 %

Shares of NYSE PAY opened at $34.35 on Friday. Paymentus Holdings, Inc. has a 52-week low of $14.77 and a 52-week high of $38.94. The business’s 50 day moving average is $29.73 and its two-hundred day moving average is $23.65. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 110.81 and a beta of 1.63.

Analyst Ratings Changes

PAY has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird raised their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price objective 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.