8,740 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Acquired by Wolverine Trading LLC

Wolverine Trading LLC purchased a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,740 shares of the business services provider's stock, valued at approximately $291,000.

A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Paymentus by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider's stock valued at $510,000 after buying an additional 484 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Paymentus by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock valued at $434,000 after buying an additional 883 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Paymentus by 2.7% in the 4th quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock valued at $1,222,000 after buying an additional 1,000 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Paymentus in the 4th quarter valued at approximately $35,000. Finally, R Squared Ltd purchased a new position in shares of Paymentus in the 4th quarter valued at approximately $43,000. 78.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price target on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Paymentus from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Wedbush set a $40.00 target price on shares of Paymentus and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their target price 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.00.

Paymentus Price Performance

Shares of Paymentus stock traded up $1.43 on Monday, reaching $39.62. 877,743 shares of the company were exchanged, compared to its average volume of 368,092. The stock's 50 day moving average price is $32.12 and its 200-day moving average price is $31.91. The company has a market cap of $4.96 billion, a P/E 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.

Insider Buying and Selling at Paymentus

In other news, Director William Ingram sold 11,409 shares of Paymentus stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $38.01, for a total value of $433,656.09. Following the transaction, the director now directly owns 73,963 shares of the company's stock, valued at $2,811,333.63. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 75.43% of the stock is owned by company 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.