Tudor Investment Corp ET AL Boosts Stock Position in Paymentus Holdings, Inc. (NYSE:PAY)

Tudor Investment Corp ET AL lifted its stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 194.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,871 shares of the business services provider's stock after buying an additional 81,099 shares during the period. Tudor Investment Corp ET AL owned about 0.10% of Paymentus worth $4,014,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the business's 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were 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 approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PAY shares. Robert W. Baird upped their price objective on Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday. 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 research report on Wednesday. The Goldman Sachs Group boosted their price objective on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday. Wedbush reiterated an "outperform" rating and set a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $33.33.

Paymentus Price Performance

Paymentus stock traded up $0.10 during mid-day trading on Wednesday, hitting $35.18. The company's stock had a trading volume of 174,044 shares, compared to its average volume of 342,142. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 113.50 and a beta of 1.61. The business has a 50 day moving average price of $28.42 and a 200-day moving average price of $30.41. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94.

Paymentus Company 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.