Paymentus Holdings, Inc. $PAY Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC lowered its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,265 shares of the business services provider’s stock after selling 21,602 shares during the quarter. Legato Capital Management LLC’s holdings in Paymentus were worth $956,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Paymentus by 26.8% in the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after acquiring an additional 38,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after acquiring an additional 683 shares during the period. Millennium Management LLC raised its position in shares of Paymentus by 4.2% in the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after acquiring an additional 9,890 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after acquiring an additional 419,736 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Paymentus by 34.7% in the second quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after acquiring an additional 6,616 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 price objective on shares of Paymentus in a research report on Friday, March 6th. Wedbush upped their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Robert W. Baird lifted their price target on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Finally, The Goldman Sachs Group cut their price target on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.20.

Paymentus Price Performance

Shares of NYSE PAY opened at $23.45 on Tuesday. The company’s 50-day simple moving average is $25.77 and its 200-day simple moving average is $28.46. Paymentus Holdings, Inc. has a 52-week low of $22.02 and a 52-week high of $40.02. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 41.14 and a beta of 1.40.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The business had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. During the same quarter last year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.65 EPS for the current fiscal year.

Paymentus 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.