Jump Financial LLC Buys 50,129 Shares of Paymentus Holdings, Inc. $PAY

Jump Financial LLC boosted its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 63.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 129,029 shares of the business services provider’s stock after buying an additional 50,129 shares during the quarter. Jump Financial LLC’s holdings in Paymentus were worth $4,226,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AlphaQuest LLC lifted its position in Paymentus by 152,600.0% in the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 1,526 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Paymentus in the first quarter worth $47,000. Advisors Asset Management Inc. increased its stake in shares of Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock worth $90,000 after buying an additional 665 shares during the period. Cliffwater LLC bought a new stake in Paymentus during the 2nd quarter valued at $124,000. Finally, KLP Kapitalforvaltning AS boosted its position in Paymentus by 35.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock valued at $187,000 after buying an additional 1,500 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Down 0.6%

Shares of NYSE PAY opened at $34.83 on Thursday. The firm has a fifty day simple moving average of $33.08 and a two-hundred day simple moving average of $33.46. Paymentus Holdings, Inc. has a 12 month low of $22.65 and a 12 month high of $40.43. The firm has a market capitalization of $4.37 billion, a PE ratio of 75.72 and a beta of 1.48.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PAY. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.