Aquatic Capital Management LLC Boosts Stock Position in Paymentus Holdings, Inc. (NYSE:PAY)

Aquatic Capital Management LLC lifted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 112.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,196 shares of the business services provider's stock after buying an additional 12,296 shares during the period. Aquatic Capital Management LLC's holdings in Paymentus were worth $758,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider's stock worth $14,207,000 after purchasing an additional 81,853 shares in the last quarter. Legal & General Group Plc grew its position in Paymentus by 40.1% during the fourth quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider's stock worth $622,000 after buying an additional 5,452 shares during the period. Victory Capital Management Inc. purchased a new position in Paymentus in the fourth quarter valued at about $215,000. Barclays PLC raised its holdings in Paymentus by 1,569.3% during the third quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock worth $101,000 after purchasing an additional 4,755 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Paymentus by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider's stock worth $4,129,000 after buying an additional 5,127 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paymentus

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 87.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PAY. The Goldman Sachs Group set a $28.00 price objective on shares of Paymentus and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Wedbush reissued an "outperform" rating and issued a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Robert W. Baird cut their price objective on Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Finally, Wells Fargo & Company lifted their target price on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.00.

Paymentus Stock Performance

PAY traded down $0.27 during mid-day trading on Monday, reaching $34.29. The stock had a trading volume of 415,299 shares, compared to its average volume of 340,550. The stock has a market capitalization of $4.29 billion, a P/E ratio of 110.61 and a beta of 1.61. Paymentus Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $38.94. The firm's fifty day simple moving average is $28.12 and its two-hundred day simple moving average is $30.33.

Paymentus (NYSE:PAY - Get Free Report) last released its earnings results on Monday, May 5th. The business services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Paymentus had a net margin of 5.19% and a return on equity of 10.84%. As a group, analysts expect that Paymentus Holdings, Inc. will post 0.39 EPS for the current fiscal year.

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.