Voleon Capital Management LP Invests $256,000 in Paymentus Holdings, Inc. (NYSE:PAY)

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

A number of other institutional investors have also recently added to or reduced their stakes in PAY. Capital International Investors increased its holdings in shares of Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock worth $142,509,000 after acquiring an additional 888,914 shares during the period. Invesco Ltd. increased its position in shares of Paymentus by 246.2% during the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock valued at $18,931,000 after purchasing an additional 412,095 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in Paymentus in the fourth quarter worth about $12,064,000. Vanguard Group Inc. lifted its stake in Paymentus by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider's stock valued at $58,697,000 after purchasing an additional 273,027 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Paymentus by 23.8% during the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock worth $28,713,000 after acquiring an additional 169,237 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Trading Down 0.5 %

Shares of Paymentus stock traded down $0.16 during midday trading on Wednesday, reaching $34.92. The company had a trading volume of 207,508 shares, compared to its average volume of 342,247. The stock has a fifty day simple moving average of $28.42 and a 200 day simple moving average of $30.41. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 113.27 and a beta of 1.61. Paymentus Holdings, Inc. has a 1-year low of $16.94 and a 1-year high of $38.94.

Insider Transactions at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the sale, 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 corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Robert W. Baird lifted their target price on shares of Paymentus from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday. Wedbush reissued an "outperform" rating and set a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. JPMorgan Chase & Co. increased their price objective on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Paymentus presently has an average rating of "Hold" and a consensus target price of $33.33.

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.