CHURCHILL MANAGEMENT Corp Purchases New Stake in Paymentus Holdings, Inc. (NYSE:PAY)

CHURCHILL MANAGEMENT Corp acquired a new position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,488 shares of the business services provider's stock, valued at approximately $963,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PAY. Advisors Asset Management Inc. raised its position in Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock valued at $34,000 after acquiring an additional 1,027 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,100 shares in the last quarter. RiverPark Advisors LLC increased its holdings in shares of Paymentus by 8.8% during the 3rd quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider's stock valued at $311,000 after purchasing an additional 1,258 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus in the 3rd quarter valued at $43,000. Finally, XTX Topco Ltd boosted its holdings in Paymentus by 17.2% during the third quarter. XTX Topco Ltd now owns 20,905 shares of the business services provider's stock worth $419,000 after buying an additional 3,064 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday. Canaccord Genuity Group downgraded Paymentus from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price objective on Paymentus from $23.50 to $33.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Finally, Robert W. Baird increased their target price on Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paymentus currently has an average rating of "Hold" and a consensus price target of $30.00.

Insider Activity at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the company's stock in a transaction 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 completion of the sale, the general counsel now owns 97,925 shares of the company's stock, valued at $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 87.76% of the stock is owned by corporate insiders.

Paymentus Trading Down 0.6 %

NYSE:PAY traded down $0.19 during trading hours on Friday, hitting $30.05. 423,570 shares of the stock were exchanged, compared to its average volume of 574,497. The firm's fifty day moving average price is $33.86 and its 200 day moving average price is $26.03. Paymentus Holdings, Inc. has a 52-week low of $14.77 and a 52-week high of $38.94. The company has a market cap of $3.75 billion, a P/E ratio of 96.94 and a beta of 1.67.

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.