Centiva Capital LP Grows Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Centiva Capital LP lifted its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 19.4% during the fourth quarter, HoldingsChannel reports. The firm owned 18,218 shares of the business services provider’s stock after purchasing an additional 2,964 shares during the period. Centiva Capital LP’s holdings in Paymentus were worth $595,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock worth $14,207,000 after acquiring an additional 81,853 shares in the last quarter. Legal & General Group Plc grew its stake in Paymentus by 40.1% in the fourth quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider’s stock worth $622,000 after purchasing an additional 5,452 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Paymentus during the 4th quarter worth $215,000. Barclays PLC raised its position in Paymentus by 1,569.3% during the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 4,755 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Paymentus in the 4th quarter worth $1,363,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Insider Transactions at Paymentus

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value 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. This trade represents a 3.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 75.43% of the company’s stock.

Paymentus Trading Down 0.2 %

NYSE PAY opened at $36.90 on Friday. The firm’s fifty day simple moving average is $28.99 and its two-hundred day simple moving average is $30.61. The firm has a market capitalization of $4.61 billion, a P/E ratio of 119.03 and a beta of 1.61. Paymentus Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $38.94.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company upped their target price on Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Robert W. Baird lifted their price target on Paymentus from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday. Five 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’s stock. Based on data from MarketBeat.com, Paymentus has an average rating of “Moderate Buy” and an average target price of $36.00.

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.