Trexquant Investment LP Cuts Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Trexquant Investment LP lowered its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,664 shares of the business services provider's stock after selling 42,354 shares during the period. Trexquant Investment LP owned 0.07% of Paymentus worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. TimesSquare Capital Management LLC purchased a new stake in Paymentus in the 4th quarter worth $35,000. R Squared Ltd bought a new stake in shares of Paymentus in the fourth quarter worth about $43,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Paymentus in the fourth quarter worth about $134,000. KLP Kapitalforvaltning AS bought a new position in Paymentus during the fourth quarter valued at approximately $137,000. Finally, Barclays PLC grew its holdings in Paymentus by 1,569.3% during the 3rd quarter. Barclays PLC now owns 5,058 shares of the business services provider's stock valued at $101,000 after buying an additional 4,755 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Paymentus Stock Up 5.0 %

NYSE:PAY traded up $1.32 during mid-day trading on Friday, hitting $27.79. 606,335 shares of the stock traded hands, compared to its average volume of 330,946. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 89.65 and a beta of 1.65. Paymentus Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $38.94. The firm's 50 day moving average is $28.08 and its two-hundred day moving average is $29.32.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PAY shares. Wells Fargo & Company upped their price objective on Paymentus from $27.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Robert W. Baird dropped their price objective on shares of Paymentus from $36.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. reduced their target price 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. The Goldman Sachs Group set a $28.00 price target on Paymentus and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Finally, StockNews.com downgraded Paymentus from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Paymentus presently has an average rating of "Hold" and a consensus target price of $30.00.

Insider Activity

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 sale, the chief financial officer now directly owns 466,035 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 87.76% 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.