Jump Financial LLC Boosts Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Jump Financial LLC lifted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 158.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,140 shares of the business services provider’s stock after buying an additional 37,470 shares during the period. Jump Financial LLC’s holdings in Paymentus were worth $1,997,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PAY. JPMorgan Chase & Co. boosted its holdings in shares of Paymentus by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 709,650 shares of the business services provider’s stock valued at $14,207,000 after acquiring an additional 81,853 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Paymentus in the 4th quarter worth approximately $215,000. Barclays PLC raised its stake 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 during the last quarter. Geode Capital Management LLC raised its stake in Paymentus by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider’s stock valued at $4,129,000 after buying an additional 5,127 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Paymentus in the 4th quarter worth $963,000. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PAY shares. Wells Fargo & Company upped their price objective on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. The Goldman Sachs Group set a $28.00 price target on shares of Paymentus and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Finally, Robert W. Baird reduced their price objective on Paymentus from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. One equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the general counsel now directly owns 94,855 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

Paymentus Price Performance

Shares of PAY stock opened at $29.02 on Friday. Paymentus Holdings, Inc. has a one year low of $16.94 and a one year high of $38.94. The company’s fifty day moving average price is $27.78 and its 200-day moving average price is $29.56. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 93.60 and a beta of 1.65.

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.