The cluster is dominated by small buyers and two larger trimmers, creating a net negative signal. Monitor next 13F filing for follow-through on the selling by Assenagon and Nisa, and watch for any insider buying that could corroborate or counter this institutional caution.
Executive Summary
A small institutional cluster in CPAY shows mixed conviction: three small asset managers added $1.4M in positions, while two larger holders trimmed $5.4M. The net selling pressure from Assenagon and Nisa outweighs the buying, suggesting cautious positioning among tracked funds.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$4.0M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Concurrent Investment Advisors | DOUBLED | +288.9% | $1.5M | $1.1M |
| Farther Finance Advisors | ADD | +49.7% | $482.0K | $206.0K |
| Mather Group | ADD | +31.2% | $195.0K | $67.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -46.4% | $12.2M | -$4.6M |
| Nisa Investment Advisors | TRIM | -47.5% | $2.1M | -$817.0K |
Key Facts
- 3 buyers added $1.4M in net new positions; 2 sellers reduced by $5.4M
- Largest seller: Assenagon Asset Management trimmed 46.4% of its stake, selling $4.6M worth
- Largest buyer: Concurrent Investment Advisors doubled its position, adding $1.1M
- All participants are asset managers; no activist, quant, or family office funds detected
Financial Impact
Net institutional selling of $4.0M in Q3 2026, with $5.4M in sells vs $1.4M in buys
Risk Factors
- 13F data is 45+ days stale; positions may have been reversed since quarter-end
- Small buyer dollar amounts ($1.5M total) are immaterial relative to CPAY's market cap
- No activist or high-conviction fund types present to signal a strong thesis
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-CPAY-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | Institutional Cluster | $407.56 | awaiting T+20 | — | — |
Oct 15, 2026 12d ago | SC 13G/A | $406.20 | awaiting T+20 | — | — |
Aug 25, 2026 8w ago | Insider Cluster | $406.93 $400.32 | ▲ +1.62% | ▲ +1.85% | — |
Aug 21, 2026 9w ago | Insider Cluster | $413.92 $392.95 | ▼ −5.07% | ▼ −6.36% | — |
Aug 21, 2026 9w ago | Insider Cluster | $413.92 $392.95 | ▼ −5.07% | ▼ −6.36% | — |
Aug 20, 2026 9w ago | 144 | $417.13 $397.22 | ▼ −4.77% | ▼ −4.25% | — |
Aug 20, 2026 9w ago | Insider Cluster | $417.13 $397.22 | ▼ −4.77% | ▼ −5.79% | — |
Aug 19, 2026 9w ago | 144 | $412.00 $397.76 | ▼ −3.46% | ▼ −3.46% | — |
Aug 18, 2026 9w ago | Insider Cluster | $407.08 $404.26 | ▼ −0.69% | ▲ +1.26% | — |
Aug 18, 2026 10w ago | 144 | $407.08 $404.26 | ▼ −0.69% | ▲ +1.26% | — |
US Market Status
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