EntryPoint Capital LLC Makes New Investment in Paymentus Holdings, Inc. (NYSE:PAY)

EntryPoint Capital LLC bought a new stake in Paymentus Holdings, Inc. (NYSE:PAY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,290 shares of the business services provider’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. TimesSquare Capital Management LLC acquired a new stake in Paymentus in the 4th quarter worth about $35,000. R Squared Ltd acquired a new stake in shares of Paymentus in the fourth quarter worth approximately $43,000. Advisors Asset Management Inc. boosted its stake in shares of Paymentus by 155.1% in the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Paymentus during the third quarter worth approximately $43,000. Finally, Arcadia Investment Management Corp MI acquired a new position in Paymentus in the 4th quarter valued at $134,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Insider Buying and Selling

In other Paymentus news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sanjay Kalra sold 15,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This trade represents a 3.28 % 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 NYSE PAY opened at $26.33 on Friday. The company has a market capitalization of $3.29 billion, a P/E ratio of 84.94 and a beta of 1.68. The company has a 50 day simple moving average of $29.32 and a 200-day simple moving average of $29.00. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Paymentus in a research note on Wednesday, March 12th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Robert W. Baird cut their price target on Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.83.

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.