Castleark Management LLC Purchases 25,180 Shares of Paymentus Holdings, Inc. $PAY

Castleark Management LLC boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,830 shares of the business services provider’s stock after acquiring an additional 25,180 shares during the period. Castleark Management LLC owned 0.13% of Paymentus worth $5,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PAY. Dynamic Technology Lab Private Ltd bought a new position in shares of Paymentus in the first quarter worth approximately $471,000. Advantage Alpha Capital Partners LP bought a new stake in Paymentus during the second quarter valued at approximately $2,553,000. Next Century Growth Investors LLC grew its stake in Paymentus by 5.4% in 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 in the last quarter. Adams Street Partners LLC increased its holdings in shares of Paymentus by 318.8% in the 2nd quarter. Adams Street Partners LLC now owns 305,568 shares of the business services provider’s stock worth $10,007,000 after buying an additional 232,600 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Paymentus in the 2nd quarter worth $681,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Stock Down 2.8%

Paymentus stock opened at $31.99 on Monday. The firm has a fifty day simple moving average of $33.11 and a two-hundred day simple moving average of $33.37. Paymentus Holdings, Inc. has a twelve month low of $22.65 and a twelve month high of $40.43. The company has a market capitalization of $4.01 billion, a PE ratio of 69.55 and a beta of 1.48.

Analysts Set New Price Targets

PAY has been the subject of several research reports. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. increased their price objective on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

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.