Two Sigma Investments LP Acquires 20,410 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Two Sigma Investments LP boosted its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 28.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,918 shares of the business services provider's stock after purchasing an additional 20,410 shares during the quarter. Two Sigma Investments LP owned about 0.07% of Paymentus worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PAY. Legal & General Group Plc boosted its holdings in Paymentus by 40.1% in the 4th quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider's stock worth $622,000 after acquiring an additional 5,452 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Paymentus during the 4th quarter valued at approximately $215,000. Cetera Investment Advisers grew its stake in Paymentus by 7.1% during the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock worth $434,000 after buying an additional 883 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Paymentus during the 4th quarter worth $1,363,000. Finally, Vanguard Group Inc. grew its stake in shares of Paymentus by 17.9% in the fourth 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. Institutional investors and hedge funds own 78.38% of the company's stock.

Analysts Set New Price Targets

PAY has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Paymentus from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group upped their price target on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wells Fargo & Company upped their price target on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, Robert W. Baird upped their price target on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Paymentus currently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Paymentus Stock Up 3.7%

Shares of PAY traded up $1.43 during trading hours on Monday, reaching $39.62. The company's stock had a trading volume of 877,743 shares, compared to its average volume of 368,092. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 127.80 and a beta of 1.61. Paymentus Holdings, Inc. has a 1-year low of $16.94 and a 1-year high of $40.43. The company has a 50 day moving average of $32.12 and a two-hundred day moving average of $31.91.

Insider Activity

In related news, Director William Ingram sold 11,409 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $38.01, for a total value of $433,656.09. Following the completion of the sale, the director now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 75.43% of the stock is owned by corporate insiders.

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.