UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.51 Million Stake in Paymentus Holdings, Inc. (NYSE:PAY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 34.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,308 shares of the business services provider's stock after purchasing an additional 11,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Paymentus were worth $1,513,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Capital International Investors raised its position in Paymentus by 25.6% in the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock worth $142,509,000 after purchasing an additional 888,914 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 during the last quarter. JPMorgan Chase & Co. grew its holdings in Paymentus by 23.8% during the 4th quarter. JPMorgan Chase & Co. now owns 878,887 shares of the business services provider's stock worth $28,713,000 after acquiring an additional 169,237 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Paymentus during the 4th quarter worth $24,568,000. Finally, Invesco Ltd. lifted its stake in shares of Paymentus by 246.2% during the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock valued at $18,931,000 after acquiring an additional 412,095 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PAY shares. JPMorgan Chase & Co. upped their price objective on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $40.00 price target on Paymentus and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company increased their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Robert W. Baird increased their price objective on Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen downgraded Paymentus from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Five 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.80.

Paymentus Stock Down 2.3%

Shares of NYSE:PAY traded down $0.81 during trading on Thursday, reaching $34.44. 519,330 shares of the company traded hands, compared to its average volume of 385,134. The firm has a market capitalization of $4.31 billion, a PE ratio of 111.10 and a beta of 1.65. Paymentus Holdings, Inc. has a 52 week low of $16.94 and a 52 week high of $40.43. The company's 50 day moving average is $33.80 and its two-hundred day moving average is $32.04.

Insider Buying and Selling at Paymentus

In other news, Director William Ingram sold 11,409 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $38.01, for a total value of $433,656.09. Following the sale, the director now directly owns 73,963 shares in the company, valued at approximately $2,811,333.63. This trade represents a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 75.43% of the company's stock.

About Paymentus

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.