Centiva Capital LP Makes New $305,000 Investment in Paymentus Holdings, Inc. (NYSE:PAY)

Centiva Capital LP bought a new position in Paymentus Holdings, Inc. (NYSE:PAY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 15,254 shares of the business services provider’s stock, valued at approximately $305,000.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Paymentus by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after purchasing an additional 20,767 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Paymentus by 1.1% during the 2nd quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after acquiring an additional 3,124 shares during the last quarter. FMR LLC increased its holdings in shares of Paymentus by 32,191.6% during the 3rd quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock valued at $4,564,000 after acquiring an additional 227,273 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after acquiring an additional 10,729 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Paymentus by 3.2% during the 2nd quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after acquiring an additional 4,216 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Trading Down 4.4 %

Shares of PAY stock opened at $32.12 on Wednesday. The stock has a 50 day moving average of $28.89 and a two-hundred day moving average of $23.40. Paymentus Holdings, Inc. has a 12 month low of $14.77 and a 12 month high of $38.94. The company has a market capitalization of $4.00 billion, a P/E ratio of 103.61 and a beta of 1.63.

Insiders Place Their Bets

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the sale, the general counsel now owns 97,925 shares in the company, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 87.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PAY. JPMorgan Chase & Co. increased their price objective on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company increased their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their target price on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Robert W. Baird increased their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Paymentus currently has a consensus rating of “Hold” and an average target price of $28.80.

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.