SG Americas Securities LLC Has $367,000 Stake in Paymentus Holdings, Inc. (NYSE:PAY)

SG Americas Securities LLC raised its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 103.6% in the first quarter, Holdings Channel.com reports. The firm owned 14,077 shares of the business services provider’s stock after buying an additional 7,163 shares during the period. SG Americas Securities LLC’s holdings in Paymentus were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new position in shares of Paymentus in the 4th quarter worth approximately $32,000. Deutsche Bank AG purchased a new position in shares of Paymentus in the 4th quarter worth approximately $73,000. KLP Kapitalforvaltning AS purchased a new position in shares of Paymentus in the 4th quarter worth approximately $137,000. State of Tennessee Department of Treasury purchased a new position in shares of Paymentus in the 4th quarter worth approximately $144,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Paymentus in the 4th quarter worth approximately $205,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Stock Performance

NYSE:PAY opened at $33.77 on Thursday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 86.59 and a beta of 1.65. Paymentus Holdings, Inc. has a 52-week low of $17.53 and a 52-week high of $40.43. The stock has a fifty day moving average of $35.05 and a 200 day moving average of $31.74.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Robert W. Baird boosted their target price on Paymentus from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on Paymentus from $29.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Wells Fargo & Company upped their price objective on Paymentus from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Finally, Wedbush set a $40.00 price objective on Paymentus and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Insider Transactions at Paymentus

In related news, Director William Ingram sold 11,409 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the transaction, the director now owns 73,963 shares in the company, valued at $2,811,333.63. The trade was a 13.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 75.43% of the company’s stock.

Paymentus 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.