CHURCHILL MANAGEMENT Corp Takes $963,000 Position in Paymentus Holdings, Inc. (NYSE:PAY)

CHURCHILL MANAGEMENT Corp acquired a new position in Paymentus Holdings, Inc. (NYSE:PAY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,488 shares of the business services provider’s stock, valued at approximately $963,000.

Several other large investors have also modified their holdings of the company. GSA Capital Partners LLP lifted its position in Paymentus by 38.2% during the 3rd quarter. GSA Capital Partners LLP now owns 124,189 shares of the business services provider’s stock worth $2,486,000 after acquiring an additional 34,307 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $14,207,000 after purchasing an additional 81,853 shares during the last quarter. Cerity Partners LLC bought a new stake in Paymentus during the 3rd quarter valued at approximately $629,000. PDT Partners LLC grew its holdings in Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after buying an additional 13,621 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Paymentus by 196.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,168 shares of the business services provider’s stock worth $864,000 after buying an additional 28,628 shares during the period. 78.38% of the stock is owned by institutional investors.

Insider Transactions at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’s stock in a transaction 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 sale, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. This represents a 25.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 87.76% of the stock is currently owned by insiders.

Paymentus Stock Down 0.5 %

NYSE:PAY opened at $30.20 on Friday. The firm has a 50-day moving average price of $33.80 and a 200 day moving average price of $25.95. The firm has a market capitalization of $3.76 billion, a PE ratio of 97.41 and a beta of 1.67. Paymentus Holdings, Inc. has a 12-month low of $14.77 and a 12-month high of $38.94.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PAY shares. Wells Fargo & Company increased 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. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped 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. Finally, Robert W. Baird boosted their price target on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Seven 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, Paymentus presently has a consensus rating of “Hold” and an average target price of $30.00.

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.