Paymentus Holdings, Inc. $PAY is Adams Street Partners LLC’s 5th Largest Position

Adams Street Partners LLC trimmed its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 69.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,090 shares of the business services provider’s stock after selling 212,478 shares during the period. Paymentus comprises about 1.9% of Adams Street Partners LLC’s portfolio, making the stock its 5th largest position. Adams Street Partners LLC owned approximately 0.07% of Paymentus worth $2,849,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Lisanti Capital Growth LLC bought a new position in Paymentus in the third quarter worth approximately $3,708,000. Advantage Alpha Capital Partners LP bought a new stake in Paymentus during the 2nd quarter valued at $2,553,000. Kornitzer Capital Management Inc. KS bought a new stake in Paymentus during the 3rd quarter valued at $4,461,000. Marshall Wace LLP increased its holdings in shares of Paymentus by 42.0% in the 2nd quarter. Marshall Wace LLP now owns 308,594 shares of the business services provider’s stock valued at $10,106,000 after acquiring an additional 91,342 shares during the period. Finally, Jump Financial LLC raised its position in shares of Paymentus by 63.5% in the 2nd quarter. Jump Financial LLC now owns 129,029 shares of the business services provider’s stock worth $4,226,000 after acquiring an additional 50,129 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a report on Friday, March 6th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. Finally, Wedbush cut their price objective on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Paymentus presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Paymentus Stock Performance

Paymentus stock opened at $24.40 on Friday. The stock has a market cap of $3.07 billion, a PE ratio of 46.92 and a beta of 1.50. The stock has a 50-day moving average of $26.59 and a two-hundred day moving average of $30.84. Paymentus Holdings, Inc. has a one year low of $22.02 and a one year high of $40.43.

Paymentus Company Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.