B. Metzler seel. Sohn & Co. AG raised its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 140.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 78,328 shares of the business services provider's stock after purchasing an additional 45,687 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned approximately 0.06% of Paymentus worth $2,474,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Paymentus by 3.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 204,109 shares of the business services provider's stock valued at $6,448,000 after purchasing an additional 6,018 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Paymentus by 62.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,739 shares of the business services provider's stock valued at $1,319,000 after purchasing an additional 16,038 shares during the period. Hamilton Lane Advisors LLC increased its position in Paymentus by 7.8% during the 4th quarter. Hamilton Lane Advisors LLC now owns 9,303 shares of the business services provider's stock valued at $294,000 after purchasing an additional 676 shares during the period. Palisades Investment Partners LLC increased its position in Paymentus by 2.3% during the 4th quarter. Palisades Investment Partners LLC now owns 200,471 shares of the business services provider's stock valued at $6,333,000 after purchasing an additional 4,473 shares during the period. Finally, Blue Trust Inc. increased its position in Paymentus by 186.8% during the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider's stock valued at $64,000 after purchasing an additional 1,319 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.
Paymentus Trading Up 0.6%
NYSE PAY opened at $27.16 on Friday. The company has a fifty day simple moving average of $25.42 and a 200 day simple moving average of $29.07. Paymentus Holdings, Inc. has a 12-month low of $22.02 and a 12-month high of $40.43. The company has a market cap of $3.41 billion, a P/E ratio of 52.23 and a beta of 1.44.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on PAY. Weiss Ratings reissued a "hold (c+)" rating on shares of Paymentus in a research report on Monday, December 29th. The Goldman Sachs Group decreased their target price on shares of Paymentus from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, February 24th. Wedbush decreased their target price on shares of Paymentus from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Tuesday, February 24th. Raymond James Financial reissued a "strong-buy" rating and set a $36.00 target price on shares of Paymentus in a research report on Friday, March 6th. Finally, Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a research report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.50.
Read Our Latest Stock Analysis on Paymentus
Paymentus Company Profile
(
Free Report)
Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.
Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.
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