Cubist Systematic Strategies LLC Raises Stock Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Cubist Systematic Strategies LLC boosted its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 70.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,844 shares of the business services provider’s stock after purchasing an additional 81,058 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Paymentus were worth $6,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAY. Capital International Investors boosted its position in shares of Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock worth $142,509,000 after purchasing an additional 888,914 shares in the last quarter. Invesco Ltd. boosted its holdings in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock worth $18,931,000 after acquiring an additional 412,095 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Paymentus during the fourth quarter worth about $12,064,000. Adams Street Partners LLC purchased a new stake in shares of Paymentus during the fourth quarter worth about $8,953,000. Finally, Vanguard Group Inc. increased its holdings in shares of Paymentus by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider’s stock valued at $58,697,000 after acquiring an additional 273,027 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PAY shares. Wells Fargo & Company lifted their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their price target on Paymentus from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Robert W. Baird increased their price objective on Paymentus from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Paymentus currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Paymentus Price Performance

NYSE PAY opened at $36.99 on Friday. The company has a fifty day moving average of $28.79 and a 200 day moving average of $30.53. The company has a market capitalization of $4.62 billion, a PE ratio of 119.33 and a beta of 1.61. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94.

Insider Activity

In related news, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now directly owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now directly owns 94,855 shares of the company’s stock, valued at $3,033,462.90. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 75.43% of the company’s stock.

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.