ExodusPoint Capital Management LP Sells 25,017 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

ExodusPoint Capital Management LP lowered its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 66.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,720 shares of the business services provider's stock after selling 25,017 shares during the period. ExodusPoint Capital Management LP's holdings in Paymentus were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAY. TimesSquare Capital Management LLC acquired a new stake in shares of Paymentus in the fourth quarter valued at about $35,000. R Squared Ltd acquired a new stake in shares of Paymentus in the 4th quarter valued at approximately $43,000. Barclays PLC grew its stake in shares of Paymentus by 1,569.3% in the third quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock valued at $101,000 after buying an additional 4,755 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Paymentus during the fourth quarter worth $134,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Paymentus in the fourth quarter valued at $137,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Trading Down 0.3 %

NYSE PAY traded down $0.10 during trading on Thursday, reaching $29.02. The company's stock had a trading volume of 296,246 shares, compared to its average volume of 473,329. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94. The firm has a 50 day moving average price of $27.89 and a 200 day moving average price of $29.44. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 93.60 and a beta of 1.65.

Insiders Place Their Bets

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the company's stock in a transaction dated 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 sale, the general counsel now owns 94,855 shares of the company's stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently 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 on the stock in a report on Friday, April 4th. The Goldman Sachs Group set a $28.00 target price on Paymentus and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price target on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. StockNews.com cut shares of Paymentus from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. Finally, Wedbush reaffirmed an "outperform" rating and set a $38.00 target price on shares of Paymentus in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of "Hold" and an average target price 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.