Adams Street Partners LLC Takes $8.95 Million Position in Paymentus Holdings, Inc. (NYSE:PAY)

Adams Street Partners LLC purchased a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 274,039 shares of the business services provider's stock, valued at approximately $8,953,000. Paymentus accounts for 7.9% of Adams Street Partners LLC's investment portfolio, making the stock its 4th biggest holding. Adams Street Partners LLC owned about 0.22% of Paymentus as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Swiss National Bank lifted its holdings in shares of Paymentus by 2.7% in the fourth quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock valued at $1,222,000 after buying an additional 1,000 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Paymentus during the 4th quarter valued at about $35,000. R Squared Ltd acquired a new position in shares of Paymentus in the 4th quarter worth approximately $43,000. Arcadia Investment Management Corp MI bought a new stake in shares of Paymentus in the 4th quarter worth approximately $134,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Paymentus during the fourth quarter valued at approximately $137,000. Institutional investors own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

PAY has been the topic of several research reports. The Goldman Sachs Group set a $28.00 price target on Paymentus and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Wells Fargo & Company upped their target price on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Paymentus from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Robert W. Baird dropped their target price on shares of Paymentus from $36.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $30.00.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 15,794 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company's stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 87.76% of the company's stock.

Paymentus Trading Up 3.3 %

PAY stock traded up $1.12 during midday trading on Friday, reaching $34.57. The company had a trading volume of 569,447 shares, compared to its average volume of 340,248. The company has a 50 day moving average of $28.12 and a two-hundred day moving average of $30.33. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94. The company has a market capitalization of $4.32 billion, a P/E ratio of 111.52 and a beta of 1.61.

Paymentus Company 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.