North Reef Capital Management LP Purchases New Position in Paymentus Holdings, Inc. $PAY

North Reef Capital Management LP purchased a new position in Paymentus Holdings, Inc. (NYSE:PAY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 734,551 shares of the business services provider’s stock, valued at approximately $18,658,000. North Reef Capital Management LP owned 0.58% of Paymentus at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada increased 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 valued at $4,780,000 after buying an additional 38,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 buying an additional 683 shares in the last quarter. Millennium Management LLC grew its stake in Paymentus by 4.2% in 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. grew its stake in 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 acquiring an additional 419,736 shares during the period. Finally, Legal & General Group Plc increased its holdings in Paymentus by 34.7% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Wedbush lifted their target price on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird boosted their target price on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Paymentus currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Paymentus Price Performance

NYSE PAY opened at $28.79 on Friday. The stock’s 50 day simple moving average is $24.49 and its 200-day simple moving average is $25.70. The company has a market cap of $3.62 billion, a PE ratio of 50.52 and a beta of 1.31. Paymentus Holdings, Inc. has a 1-year low of $20.11 and a 1-year high of $39.38.

Paymentus (NYSE:PAY) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. During the same period in the previous year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.71 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.