Paymentus Holdings, Inc. (NYSE:PAY) Stake Boosted by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Paymentus Holdings by 58.9%, now owning 157,663 shares valued at approximately $4.12 million.
• Paymentus stock experienced a 0.6% decline and is currently trading at $28.46, with a market cap of $3.56 billion.
• Analysts have given Paymentus a Moderate Buy rating, with an average target price of $36.80, reflecting positive sentiment despite recent fluctuations in stock price.

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 58.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,663 shares of the business services provider's stock after acquiring an additional 58,451 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.13% of Paymentus worth $4,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAY. Charles Schwab Investment Management Inc. acquired a new position in shares of Paymentus during the fourth quarter worth about $286,000. Sei Investments Co. acquired a new position in shares of Paymentus during the fourth quarter worth about $604,000. KLP Kapitalforvaltning AS acquired a new position in shares of Paymentus during the fourth quarter worth about $137,000. Vanguard Group Inc. lifted its stake in shares of Paymentus by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 1,796,659 shares of the business services provider's stock worth $58,697,000 after purchasing an additional 273,027 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Paymentus by 23.8% during the fourth quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock worth $28,713,000 after purchasing an additional 169,237 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Insider Activity

In other Paymentus news, Director William Ingram sold 11,409 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $38.01, for a total value of $433,656.09. Following the transaction, the director directly owned 73,963 shares of the company's stock, valued at $2,811,333.63. This represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 75.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wedbush set a $40.00 price objective on Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded Paymentus from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. JPMorgan Chase & Co. boosted their price objective on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Wolfe Research upgraded Paymentus from a "peer perform" rating to an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Robert W. Baird increased their price target on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Paymentus presently has a consensus rating of "Moderate Buy" and an average target price of $36.80.

Paymentus Stock Up 0.5%

Shares of PAY traded up $0.13 during trading on Friday, reaching $28.01. The company's stock had a trading volume of 314,848 shares, compared to its average volume of 532,793. The company has a fifty day moving average of $32.66 and a two-hundred day moving average of $31.17. Paymentus Holdings, Inc. has a twelve month low of $17.70 and a twelve month high of $40.43. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 71.54 and a beta of 1.56.

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.