29,488 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Purchased by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 29,488 shares of the business services provider’s stock, valued at approximately $963,000.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC raised its position in Paymentus by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,027 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus during the third quarter valued at $43,000. Barclays PLC lifted its stake in shares of Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 4,755 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Paymentus in the third quarter worth about $132,000. 78.38% of the stock is owned by institutional investors.

Paymentus Stock Performance

PAY opened at $30.20 on Friday. Paymentus Holdings, Inc. has a twelve month low of $14.77 and a twelve month high of $38.94. The firm has a market cap of $3.76 billion, a PE ratio of 97.41 and a beta of 1.67. The firm’s fifty day moving average is $33.80 and its two-hundred day moving average is $25.95.

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm’s 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 approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 87.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PAY. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Robert W. Baird lifted their target price 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, Wells Fargo & Company upped their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.00.

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.