Y Intercept Hong Kong Ltd Increases Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Y Intercept Hong Kong Ltd lifted its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 96.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,538 shares of the business services provider's stock after acquiring an additional 17,969 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Paymentus were worth $731,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. RiverPark Advisors LLC boosted its holdings in Paymentus by 139.1% during the second quarter. RiverPark Advisors LLC now owns 14,269 shares of the business services provider's stock worth $271,000 after purchasing an additional 8,302 shares during the last quarter. Ridgewood Investments LLC lifted its position in shares of Paymentus by 61.5% during the 2nd quarter. Ridgewood Investments LLC now owns 42,000 shares of the business services provider's stock worth $798,000 after buying an additional 16,000 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider's stock worth $28,000 after buying an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider's stock valued at $45,000 after acquiring an additional 1,381 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Paymentus by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider's stock valued at $10,279,000 after acquiring an additional 20,767 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Insider Transactions at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total value of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares in the company, valued at approximately $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 87.76% of the company's stock.

Paymentus Stock Performance

Shares of NYSE PAY traded down $0.61 during midday trading on Friday, hitting $34.35. 317,066 shares of the company traded hands, compared to its average volume of 275,871. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94. The firm has a market cap of $4.28 billion, a P/E ratio of 110.81 and a beta of 1.63. The stock has a 50-day moving average price of $29.73 and a 200 day moving average price of $23.69.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Paymentus from $21.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Robert W. Baird increased their price target on shares of Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered shares of Paymentus from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their target price on shares of Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group raised their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Paymentus presently has an average rating of "Hold" and a consensus price target of $28.80.

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.