Paymentus Holdings, Inc. (NYSE:PAY) Shares Bought 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 grew its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 58.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 157,663 shares of the business services provider's stock after purchasing 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 SEC.

Other hedge funds also recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of Paymentus during the 4th quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Paymentus by 2,763.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock worth $54,000 after acquiring an additional 1,990 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Paymentus during the 4th quarter worth $73,000. Bessemer Group Inc. bought a new stake in shares of Paymentus during the 1st quarter worth $108,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Paymentus during the 4th quarter worth $137,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Down 0.6%

Shares of Paymentus stock opened at $28.46 on Tuesday. Paymentus Holdings, Inc. has a 12 month low of $17.70 and a 12 month high of $40.43. The business has a fifty day simple moving average of $33.30 and a 200-day simple moving average of $31.23. The stock has a market cap of $3.56 billion, a PE ratio of 72.98 and a beta of 1.56.

Insider Activity

In related news, Director William Ingram sold 11,409 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the sale, the director directly owned 73,963 shares in the company, valued at approximately $2,811,333.63. This trade represents a 13.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 87.76% of the company's stock.

Analyst Upgrades and Downgrades

PAY has been the subject of several research reports. Robert W. Baird raised their price objective on Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wells Fargo & Company raised their target price on Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Wedbush set a $40.00 target price on Paymentus and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wolfe Research raised Paymentus from a "peer perform" rating to an "outperform" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.80.

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.

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