UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Paymentus Holdings, Inc. (NYSE:PAY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 34.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,308 shares of the business services provider’s stock after purchasing an additional 11,924 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Paymentus were worth $1,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PAY. Legal & General Group Plc grew its holdings in Paymentus by 40.1% in the 4th quarter. Legal & General Group Plc now owns 19,052 shares of the business services provider’s stock valued at $622,000 after buying an additional 5,452 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Paymentus in the fourth quarter valued at about $215,000. Cetera Investment Advisers increased its position in Paymentus by 7.1% during the fourth quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock worth $434,000 after purchasing an additional 883 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Paymentus by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider’s stock worth $510,000 after purchasing an additional 484 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Paymentus during the fourth quarter worth about $1,363,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PAY. Robert W. Baird increased their price target on shares of Paymentus from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Wedbush set a $40.00 price objective on Paymentus and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. 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 note on Wednesday, May 7th. The Goldman Sachs Group lifted their target price on Paymentus from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen cut Paymentus from a “buy” rating to a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Paymentus presently has an average rating of “Moderate Buy” and an average price target of $36.80.

Paymentus Stock Performance

Paymentus stock opened at $36.49 on Monday. The firm has a 50 day moving average price of $33.20 and a 200 day moving average price of $31.99. Paymentus Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $40.43. The company has a market capitalization of $4.57 billion, a PE ratio of 117.71 and a beta of 1.65.

Insider Buying and Selling at Paymentus

In other Paymentus 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 completion of the transaction, the director now owns 73,963 shares of the company’s stock, valued at $2,811,333.63. This trade represents a 13.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 75.43% of the stock is currently owned by corporate insiders.

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.