B. Metzler seel. Sohn & Co. AG Purchases New Shares in Paymentus Holdings, Inc. $PAY

B. Metzler seel. Sohn & Co. AG acquired a new position in Paymentus Holdings, Inc. (NYSE:PAY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,641 shares of the business services provider’s stock, valued at approximately $999,000.

Several other hedge funds have also modified their holdings of PAY. Royal Bank of Canada grew its position in shares of Paymentus by 26.8% during the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock valued at $4,780,000 after acquiring an additional 38,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after purchasing an additional 683 shares during the period. Millennium Management LLC raised its holdings in Paymentus by 4.2% in the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after purchasing an additional 9,890 shares during the period. Goldman Sachs Group Inc. boosted its position in Paymentus by 275.8% during the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after purchasing an additional 419,736 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Paymentus in the second quarter valued at approximately $545,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $36.00 price target on shares of Paymentus in a research note on Friday, March 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Finally, Wedbush decreased their price objective on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Paymentus Price Performance

Shares of Paymentus stock opened at $25.53 on Thursday. The stock has a market capitalization of $3.21 billion, a P/E ratio of 49.10 and a beta of 1.50. The business has a 50 day simple moving average of $26.82 and a two-hundred day simple moving average of $31.03. Paymentus Holdings, Inc. has a 12 month low of $22.02 and a 12 month high of $40.43.

About Paymentus

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.