Jane Street Group LLC Sells 29,894 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

Jane Street Group LLC cut its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 60.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,916 shares of the business services provider’s stock after selling 29,894 shares during the quarter. Jane Street Group LLC’s holdings in Paymentus were worth $399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its position in Paymentus by 2.6% during the third quarter. State Street Corp now owns 300,414 shares of the business services provider’s stock worth $6,014,000 after buying an additional 7,525 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Paymentus by 1,305.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,600 shares of the business services provider’s stock worth $192,000 after purchasing an additional 8,917 shares in the last quarter. Centiva Capital LP bought a new position in shares of Paymentus in the third quarter worth $305,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Paymentus in the third quarter valued at about $43,000. Finally, PDT Partners LLC lifted its position in Paymentus by 39.4% during the third quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock worth $964,000 after purchasing an additional 13,621 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAY has been the topic of several recent analyst reports. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Wells Fargo & Company raised their target price on Paymentus from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird boosted their price target on Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.80.

Insider Buying and Selling

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the firm’s 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 completion of the transaction, the general counsel now owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 87.76% of the stock is currently owned by corporate insiders.

Paymentus Stock Performance

NYSE PAY opened at $31.81 on Wednesday. Paymentus Holdings, Inc. has a fifty-two week low of $14.77 and a fifty-two week high of $38.94. The stock has a market cap of $3.96 billion, a PE ratio of 102.61 and a beta of 1.67. The firm’s fifty day moving average price is $33.05 and its two-hundred day moving average price is $25.44.

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.