Paymentus Holdings, Inc. $PAY is Adams Street Partners LLC’s 4th Largest Position

Adams Street Partners LLC raised its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 318.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 305,568 shares of the business services provider’s stock after acquiring an additional 232,600 shares during the quarter. Paymentus makes up 7.0% of Adams Street Partners LLC’s investment portfolio, making the stock its 4th biggest holding. Adams Street Partners LLC owned about 0.24% of Paymentus worth $10,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Paymentus by 12.8% in the first quarter. Bank of New York Mellon Corp now owns 44,935 shares of the business services provider’s stock valued at $1,173,000 after purchasing an additional 5,103 shares in the last quarter. Natixis Advisors LLC acquired a new stake in Paymentus during the first quarter worth approximately $569,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Paymentus during the 1st quarter worth approximately $279,000. Vanguard Group Inc. boosted its holdings in shares of Paymentus by 30.7% in the 1st quarter. Vanguard Group Inc. now owns 2,347,870 shares of the business services provider’s stock valued at $61,279,000 after buying an additional 551,211 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Paymentus by 9,777.0% in the 1st quarter. Deutsche Bank AG now owns 221,639 shares of the business services provider’s stock valued at $5,785,000 after buying an additional 219,395 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Trading Down 0.3%

Shares of PAY stock opened at $34.19 on Thursday. The company has a market capitalization of $4.29 billion, a P/E ratio of 74.32 and a beta of 1.50. The business’s 50 day moving average is $32.52 and its two-hundred day moving average is $33.71. Paymentus Holdings, Inc. has a twelve month low of $22.65 and a twelve month high of $40.43.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PAY. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research report on Monday. Raymond James Financial set a $38.00 target price on Paymentus and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Paymentus has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.