10,307 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Acquired by Entropy Technologies LP

Entropy Technologies LP acquired a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,307 shares of the business services provider’s stock, valued at approximately $337,000.

Several other large investors have also recently modified their holdings of PAY. AQR Capital Management LLC bought a new position in shares of Paymentus during the 2nd quarter worth approximately $233,000. SG Americas Securities LLC acquired a new position in Paymentus during the 3rd quarter valued at approximately $132,000. nVerses Capital LLC increased its stake in Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,100 shares in the last quarter. Better Money Decisions LLC acquired a new position in Paymentus during the 3rd quarter valued at approximately $205,000. Finally, Versor Investments LP acquired a new position in Paymentus during the 3rd quarter valued at approximately $331,000. Institutional investors own 78.38% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now directly owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 87.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Wedbush began coverage on shares of Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Robert W. Baird upped their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.00.

Paymentus Stock Performance

Shares of NYSE PAY opened at $30.75 on Friday. The company’s fifty day moving average price is $32.29 and its 200 day moving average price is $27.56. Paymentus Holdings, Inc. has a 1 year low of $14.77 and a 1 year high of $38.94. The company has a market capitalization of $3.83 billion, a PE ratio of 99.18 and a beta of 1.66.

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.