2,134 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,134 shares of the business services provider’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. nVerses Capital LLC raised its holdings in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the last quarter. MCF Advisors LLC increased its position in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 worth $34,000 after acquiring an additional 1,027 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of 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 purchasing an additional 1,381 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Paymentus during the third quarter valued at approximately $132,000. Institutional investors and hedge funds own 12.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PAY shares. JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their price target on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their price objective on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Robert W. Baird lifted their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.80.

Insider Activity at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction 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 transaction, the general counsel now directly owns 97,925 shares of the company’s stock, valued at $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 87.76% of the company’s stock.

Paymentus Trading Down 6.8 %

Paymentus stock opened at $34.61 on Friday. The firm has a market capitalization of $4.31 billion, a P/E ratio of 111.65 and a beta of 1.63. The business has a 50-day moving average of $28.39 and a 200-day moving average of $23.17. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.94.

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.