Balyasny Asset Management L.P. Has $832,000 Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Balyasny Asset Management L.P. boosted its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 50.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,471 shares of the business services provider's stock after purchasing an additional 8,497 shares during the period. Balyasny Asset Management L.P.'s holdings in Paymentus were worth $832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Swiss National Bank raised its position in shares of Paymentus by 2.7% during the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock worth $1,222,000 after purchasing an additional 1,000 shares during the period. TimesSquare Capital Management LLC bought a new position in Paymentus during the 4th quarter valued at $35,000. R Squared Ltd bought a new position in Paymentus during the 4th quarter valued at $43,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Paymentus in the fourth quarter worth $134,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Paymentus in the fourth quarter worth $137,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PAY shares. Wedbush set a $40.00 price objective on Paymentus and gave the company an "outperform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wells Fargo & Company raised their target price on Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Robert W. Baird raised their target price on Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, StockNews.com upgraded Paymentus from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

Paymentus Trading Down 0.4%

PAY traded down $0.17 on Tuesday, hitting $39.68. 62,543 shares of the stock traded hands, compared to its average volume of 351,218. Paymentus Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $40.43. The firm has a market capitalization of $4.96 billion, a PE ratio of 127.98 and a beta of 1.61. The business has a fifty day moving average price of $30.35 and a two-hundred day moving average price of $31.27.

Insider Activity at Paymentus

In other Paymentus news, Director William Ingram sold 11,409 shares of Paymentus stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the sale, the director now directly owns 73,963 shares of the company's stock, valued at approximately $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 75.43% of the company's stock.

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.