Globeflex Capital L P Makes New $2.13 Million Investment in Paymentus Holdings, Inc. $PAY

Globeflex Capital L P bought a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 88,313 shares of the business services provider’s stock, valued at approximately $2,134,000. Globeflex Capital L P owned about 0.07% of Paymentus at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. KBC Group NV acquired a new position in shares of Paymentus in the 1st quarter valued at about $41,000. Los Angeles Capital Management LLC acquired a new stake in Paymentus during the fourth quarter worth about $80,000. Orange County Employees Retirement System bought a new position in Paymentus in the fourth quarter worth about $150,000. Advisors Asset Management Inc. lifted its holdings in Paymentus by 26.0% in the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Vident Advisory LLC acquired a new position in Paymentus in the second quarter valued at approximately $204,000. 78.38% of the stock is currently owned by institutional investors.

Insider Activity at Paymentus

In related news, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the sale, the director owned 509,888 shares of the company’s stock, valued at $20,798,331.52. The trade was a 13.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Kalra sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00. Following the completion of the sale, the chief financial officer owned 508,506 shares of the company’s stock, valued at $20,955,532.26. This trade represents a 4.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 147,909 shares of company stock valued at $5,735,337 over the last quarter. Insiders own 55.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PAY shares. Wolfe Research reaffirmed an “outperform” rating and set a $44.00 target price on shares of Paymentus in a report on Tuesday, August 4th. Wedbush raised their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. The Goldman Sachs Group boosted their price objective on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Robert W. Baird increased their target price on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings cut Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.67.

Paymentus Price Performance

PAY opened at $39.88 on Monday. The stock’s 50 day moving average price is $30.87 and its 200 day moving average price is $26.99. The stock has a market cap of $5.02 billion, a P/E ratio of 60.43 and a beta of 1.29. Paymentus Holdings, Inc. has a 12 month low of $20.11 and a 12 month high of $45.31.

Paymentus (NYSE:PAY) last released its earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The firm had revenue of $360.74 million for the quarter, compared to analysts’ expectations of $345.44 million. During the same quarter last year, the company earned $0.11 EPS. Paymentus’s quarterly revenue was up 28.8% on a year-over-year basis. Equities analysts anticipate that Paymentus Holdings, Inc. will post 0.77 EPS for the current year.

Paymentus Company 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.