Voleon Capital Management LP Makes New Investment in Paymentus Holdings, Inc. (NYSE:PAY)

Voleon Capital Management LP bought a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,822 shares of the business services provider's stock, valued at approximately $256,000.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC grew 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 during the period. Geode Capital Management LLC grew its holdings in Paymentus by 2.6% in the third quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider's stock worth $4,129,000 after purchasing an additional 5,127 shares during the period. JPMorgan Chase & Co. increased its stake in Paymentus by 13.0% in the third quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider's stock valued at $14,207,000 after purchasing an additional 81,853 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Paymentus during the fourth quarter valued at about $963,000. Finally, R Squared Ltd acquired a new position in shares of Paymentus during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Paymentus Stock Performance

Shares of Paymentus stock traded up $0.92 during mid-day trading on Tuesday, hitting $35.05. 770,179 shares of the stock were exchanged, compared to its average volume of 342,881. Paymentus Holdings, Inc. has a 12 month low of $16.94 and a 12 month high of $38.94. The company has a 50-day simple moving average of $28.27 and a 200 day simple moving average of $30.38. The company has a market capitalization of $4.38 billion, a P/E ratio of 112.86 and a beta of 1.61.

Insider Activity at Paymentus

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 94,855 shares of the company's stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total value 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 $14,908,459.65. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday. StockNews.com raised shares of Paymentus from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, Robert W. Baird boosted their price objective on Paymentus from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Paymentus currently has a consensus rating of "Hold" and an average price target of $33.00.

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.