Capital World Investors Increases Stock Holdings in Paymentus Holdings, Inc. $PAY

Capital World Investors boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,499,583 shares of the business services provider’s stock after acquiring an additional 105,970 shares during the quarter. Capital World Investors’ holdings in Paymentus were worth $78,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PAY. Royal Bank of Canada boosted its holdings in 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. boosted its holdings in Paymentus by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 683 shares during the period. Millennium Management LLC boosted its holdings in Paymentus by 4.2% during the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock valued at $6,365,000 after acquiring an additional 9,890 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after buying an additional 419,736 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Paymentus by 34.7% in the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock valued at $841,000 after buying an additional 6,616 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush lifted their price objective on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Robert W. Baird lifted their price objective on Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Paymentus Stock Up 2.9%

PAY stock opened at $21.13 on Wednesday. The business has a 50 day moving average price of $25.22 and a 200 day moving average price of $27.35. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 37.07 and a beta of 1.33. Paymentus Holdings, Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $39.38.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. As a group, sell-side analysts anticipate that Paymentus Holdings, Inc. will post 0.65 EPS for the current 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.