CenterBook Partners LP Sells 235,610 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

CenterBook Partners LP cut its stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 97.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,149 shares of the business services provider's stock after selling 235,610 shares during the period. CenterBook Partners LP's holdings in Paymentus were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Invesco Ltd. raised its position in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after acquiring an additional 412,095 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Paymentus by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider's stock worth $58,697,000 after purchasing an additional 273,027 shares in the last quarter. FMR LLC lifted its stake in Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider's stock valued at $4,564,000 after purchasing an additional 227,273 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Paymentus by 23.8% during the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock worth $28,713,000 after buying an additional 169,237 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Paymentus by 159.9% in the fourth quarter. Renaissance Technologies LLC now owns 221,200 shares of the business services provider's stock worth $7,227,000 after buying an additional 136,100 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Paymentus Stock Performance

Shares of PAY stock traded down $0.10 during trading on Friday, hitting $29.02. 296,248 shares of the company were exchanged, compared to its average volume of 334,933. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 93.60 and a beta of 1.65. The business's 50-day simple moving average is $27.83 and its 200 day simple moving average is $29.50. Paymentus Holdings, Inc. has a twelve month low of $16.94 and a twelve month high of $38.94.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the sale, the general counsel now owns 94,855 shares of the company's stock, valued at approximately $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.

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.