Jump Financial LLC Acquires 37,470 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Jump Financial LLC raised its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 158.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,140 shares of the business services provider's stock after purchasing an additional 37,470 shares during the quarter. Jump Financial LLC's holdings in Paymentus were worth $1,997,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PAY. JPMorgan Chase & Co. increased its stake in Paymentus by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider's stock valued at $14,207,000 after buying an additional 81,853 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Paymentus during the 4th quarter worth approximately $215,000. Barclays PLC lifted its position in shares of Paymentus by 1,569.3% during the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock worth $101,000 after buying an additional 4,755 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Paymentus by 2.6% during 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. Finally, Teacher Retirement System of Texas bought a new position in shares of Paymentus during the 4th quarter worth approximately $1,363,000. Institutional investors own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAY. Wells Fargo & Company lifted their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Wedbush reissued an "outperform" rating and set a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. StockNews.com cut shares of Paymentus from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. Robert W. Baird lowered 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.00.

Paymentus Stock Performance

Paymentus stock traded up $1.07 during mid-day trading on Thursday, reaching $31.26. The company's stock had a trading volume of 38,381 shares, compared to its average volume of 335,617. Paymentus Holdings, Inc. has a 12-month low of $16.94 and a 12-month high of $38.94. The company has a market capitalization of $3.91 billion, a P/E ratio of 100.79 and a beta of 1.65. The firm's fifty day moving average price is $27.71 and its two-hundred day moving average price is $29.75.

Insider Activity at Paymentus

In other news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares of the company's stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% 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.