Adams Street Partners LLC Acquires New 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 fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 274,039 shares of the business services provider's stock, valued at approximately $8,953,000. Paymentus makes up 7.9% of Adams Street Partners LLC's holdings, making the stock its 4th largest holding. Adams Street Partners LLC owned 0.22% of Paymentus at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Swiss National Bank grew its holdings in Paymentus by 2.7% in the fourth quarter. Swiss National Bank now owns 37,400 shares of the business services provider's stock worth $1,222,000 after purchasing an additional 1,000 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Paymentus during the 4th quarter valued at about $35,000. R Squared Ltd purchased a new stake in Paymentus in the fourth quarter valued at about $43,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Paymentus during the fourth quarter worth about $134,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Paymentus during the fourth quarter valued at about $137,000. Institutional investors own 78.38% of the company's stock.

Paymentus Stock Performance

Shares of Paymentus stock traded up $0.10 on Wednesday, hitting $35.18. The company's stock had a trading volume of 268,454 shares, compared to its average volume of 342,437. Paymentus Holdings, Inc. has a 1 year low of $16.94 and a 1 year high of $38.94. The firm has a fifty day moving average price of $28.42 and a 200-day moving average price of $30.41. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 113.34 and a beta of 1.61.

Insider Activity

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders own 87.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Paymentus from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday. StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $33.33.

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.