Jane Street Group LLC Reduces Position in Paymentus Holdings, Inc. (NYSE:PAY)

Jane Street Group LLC lowered its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 60.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 19,916 shares of the business services provider's stock after selling 29,894 shares during the quarter. Jane Street Group LLC's holdings in Paymentus were worth $399,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock worth $34,000 after purchasing an additional 1,027 shares during the last quarter. nVerses Capital LLC lifted its stake in 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 acquiring an additional 1,100 shares during the period. RiverPark Advisors LLC boosted its holdings in shares of Paymentus by 8.8% in the 3rd quarter. RiverPark Advisors LLC now owns 15,527 shares of the business services provider's stock valued at $311,000 after acquiring an additional 1,258 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Paymentus in the third quarter worth $43,000. Finally, Millennium Management LLC raised its holdings in shares of Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider's stock worth $5,430,000 after purchasing an additional 3,124 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Paymentus Price Performance

Shares of PAY stock traded down $0.15 on Wednesday, hitting $31.71. The stock had a trading volume of 409,019 shares, compared to its average volume of 641,643. The company's 50 day moving average price is $33.05 and its 200-day moving average price is $25.44. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.94. The firm has a market capitalization of $3.95 billion, a P/E ratio of 102.29 and a beta of 1.67.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their price target on Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Canaccord Genuity Group lowered Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Wells Fargo & Company boosted their price target on Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Finally, Robert W. Baird raised their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.80.

Insiders Place Their Bets

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the transaction, the general counsel now directly owns 97,925 shares in the company, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 87.76% of the company's stock.

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.