Paymentus Holdings, Inc. (NYSE:PAY) Stock Holdings Lowered by CenterBook Partners LP

CenterBook Partners LP decreased its stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 97.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,149 shares of the business services provider's stock after selling 235,610 shares during the quarter. CenterBook Partners LP's holdings in Paymentus were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAY. TimesSquare Capital Management LLC acquired a new position in shares of Paymentus during the 4th quarter worth approximately $35,000. R Squared Ltd acquired a new position in shares of Paymentus in the 4th quarter valued at $43,000. Barclays PLC boosted its stake in Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock worth $101,000 after buying an additional 4,755 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Paymentus during the 4th quarter worth approximately $134,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Paymentus in the fourth quarter valued at $137,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PAY shares. Robert W. Baird dropped their target price on shares of Paymentus from $36.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price objective on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company increased their target price on Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. The Goldman Sachs Group set a $28.00 price objective on shares of Paymentus and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Finally, StockNews.com lowered Paymentus from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $30.00.

Insider Buying and Selling

In related news, CFO Sanjay Kalra sold 15,794 shares of the company'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 of the company's stock, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business's 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 sale, the general counsel now owns 94,855 shares of the company's stock, valued at approximately $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 87.76% of the company's stock.

Paymentus Price Performance

PAY traded down $0.10 on Thursday, reaching $29.02. The company's stock had a trading volume of 296,246 shares, compared to its average volume of 334,251. The business's 50 day moving average is $27.89 and its 200 day moving average is $29.44. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 93.60 and a beta of 1.65.

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.