Renaissance Technologies LLC Increases Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Renaissance Technologies LLC increased its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 159.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,200 shares of the business services provider's stock after purchasing an additional 136,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.18% of Paymentus worth $7,227,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. TimesSquare Capital Management LLC purchased a new position in Paymentus in the fourth quarter valued at about $35,000. R Squared Ltd purchased a new stake in Paymentus in the fourth quarter valued at approximately $43,000. Barclays PLC boosted its holdings in 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 purchasing an additional 4,755 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Paymentus during the 4th quarter worth approximately $134,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Paymentus in the 4th quarter valued at about $137,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paymentus

In related news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company's stock in a transaction 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 sale, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 87.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Wedbush reiterated an "outperform" rating and issued a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. Robert W. Baird cut their target price on shares of Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. The Goldman Sachs Group set a $28.00 price objective on Paymentus and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of Paymentus from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Paymentus presently has an average rating of "Hold" and an average price target of $30.00.

Paymentus Stock Up 3.2 %

Shares of NYSE PAY traded up $0.98 during mid-day trading on Thursday, hitting $31.17. 34,782 shares of the company were exchanged, compared to its average volume of 335,591. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 100.02 and a beta of 1.65. The stock has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $29.75. Paymentus Holdings, Inc. has a 1-year low of $16.94 and a 1-year high of $38.94.

Paymentus 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.