Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Acquires New Holdings in Paymentus Holdings, Inc. $PAY

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) during the third quarter, HoldingsChannel reports. The fund bought 210,024 shares of the business services provider’s stock, valued at approximately $6,427,000. Paymentus makes up about 3.8% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s portfolio, making the stock its 11th largest holding.

Several other institutional investors also recently modified their holdings of PAY. Cliffwater LLC acquired a new stake in shares of Paymentus during the 2nd quarter valued at $124,000. Advisors Asset Management Inc. raised its position in Paymentus by 11.7% in the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 403 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of Paymentus by 35.7% during the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 1,500 shares in the last quarter. Vident Advisory LLC bought a new stake in shares of Paymentus during the second quarter worth about $204,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Paymentus in the second quarter valued at approximately $226,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Price Performance

Shares of PAY stock traded down $0.39 on Wednesday, reaching $29.06. 20,213 shares of the company were exchanged, compared to its average volume of 578,121. Paymentus Holdings, Inc. has a one year low of $22.65 and a one year high of $40.43. The company has a 50-day moving average of $31.66 and a 200-day moving average of $32.58. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 63.25 and a beta of 1.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PAY shares. JPMorgan Chase & Co. lifted their target price on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Paymentus presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

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.