Point72 Asia Singapore Pte. Ltd. Makes New Investment in Paymentus Holdings, Inc. (NYSE:PAY)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,134 shares of the business services provider’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GSA Capital Partners LLP lifted its position in shares of Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 34,307 shares during the last quarter. PDT Partners LLC boosted its position in shares of Paymentus by 39.4% in the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after acquiring an additional 13,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Paymentus by 196.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after acquiring an additional 28,628 shares during the last quarter. Versor Investments LP bought a new position in Paymentus during the third quarter worth $331,000. Finally, Cerity Partners LLC acquired a new position in Paymentus during the 3rd quarter valued at $629,000. 12.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of 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 Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price target on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird lifted their price objective on 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 target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Paymentus has an average rating of “Hold” and a consensus price target of $28.80.

Insider Buying and Selling at Paymentus

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

Paymentus Trading Down 6.8 %

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

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.