12,890 Shares in Paymentus Holdings, Inc. $PAY Acquired by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,890 shares of the business services provider’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Paymentus during the first quarter worth $471,000. Next Century Growth Investors LLC lifted its holdings in Paymentus by 5.4% during the 1st quarter. Next Century Growth Investors LLC now owns 1,356,980 shares of the business services provider’s stock worth $35,417,000 after buying an additional 69,156 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Paymentus during the 2nd quarter worth about $681,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Paymentus during the 1st quarter worth about $2,338,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Paymentus by 19.7% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 188,696 shares of the business services provider’s stock valued at $6,180,000 after acquiring an additional 31,033 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PAY shares. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday. Finally, Raymond James Financial set a $38.00 target price on shares of Paymentus and gave the company an “outperform” rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Paymentus Stock Up 3.5%

PAY opened at $34.23 on Wednesday. Paymentus Holdings, Inc. has a 52 week low of $22.65 and a 52 week high of $40.43. The business’s 50 day moving average is $32.54 and its two-hundred day moving average is $33.70. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 74.42 and a beta of 1.50.

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.