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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,384 shares of the business services provider’s stock after selling 2,911 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Paymentus were worth $688,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PAY. RiverPark Advisors LLC lifted its holdings in shares of Paymentus by 139.1% during the 2nd quarter. RiverPark Advisors LLC now owns 14,269 shares of the business services provider’s stock valued at $271,000 after buying an additional 8,302 shares during the period. Ridgewood Investments LLC lifted its holdings in Paymentus by 61.5% in the second quarter. Ridgewood Investments LLC now owns 42,000 shares of the business services provider’s stock valued at $798,000 after acquiring an additional 16,000 shares during the period. MCF Advisors LLC lifted its holdings in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares during the period. Arcadia Investment Management Corp MI boosted its position in Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after purchasing an additional 20,767 shares during the period. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PAY. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Robert W. Baird upped their target price on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price objective on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Paymentus presently has an average rating of “Hold” and an average target price of $28.80.

Paymentus Price Performance

PAY opened at $32.95 on Friday. The firm has a market cap of $4.11 billion, a P/E ratio of 106.29 and a beta of 1.63. Paymentus Holdings, Inc. has a 1-year low of $14.77 and a 1-year high of $38.94. The company has a 50 day simple moving average of $30.81 and a two-hundred day simple moving average of $24.09.

Insider Buying and Selling

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. This trade represents a 25.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 87.76% of the stock is currently owned by 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.