Universal Beteiligungs und Servicegesellschaft mbH Takes $3.24 Million Position in Paymentus Holdings, Inc. (NYSE:PAY)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 99,212 shares of the business services provider's stock, valued at approximately $3,241,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.08% of Paymentus as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital International Investors raised its stake 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 buying an additional 888,914 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Paymentus in the fourth quarter worth approximately $24,568,000. Invesco Ltd. raised its stake in Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after buying an additional 412,095 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Paymentus in the fourth quarter worth approximately $12,064,000. Finally, Adams Street Partners LLC bought a new position in Paymentus in the fourth quarter worth approximately $8,953,000. Institutional investors own 78.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Robert W. Baird boosted their price objective on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wedbush set a $40.00 price objective on shares of Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wall Street Zen raised shares of Paymentus from a "sell" rating to a "hold" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five investment 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.80.

Paymentus Trading Up 1.9%

Shares of PAY stock traded up $0.68 during trading hours on Friday, reaching $36.49. 617,910 shares of the company's stock were exchanged, compared to its average volume of 380,689. The stock's 50 day moving average is $33.20 and its 200-day moving average is $32.06. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 117.71 and a beta of 1.61. Paymentus Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $40.43.

Insider Transactions at Paymentus

In other news, Director William Ingram sold 11,409 shares of the company's 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 transaction, the director now directly owns 73,963 shares of the company's stock, valued at approximately $2,811,333.63. This represents a 13.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 75.43% of the company's stock.

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.