Vanguard Group Inc. boosted its stake in Paymentus Holdings, Inc. (NYSE:PAY – Free Report) by 20.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,391,890 shares of the business services provider’s stock after buying an additional 753,281 shares during the period. Vanguard Group Inc.’s holdings in Paymentus were worth $138,740,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new stake in Paymentus during the third quarter worth approximately $33,000. Blue Trust Inc. increased its stake in shares of Paymentus by 186.8% during the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,319 shares during the period. Vident Advisory LLC bought a new position in shares of Paymentus during the second quarter worth approximately $204,000. Bayesian Capital Management LP acquired a new stake in Paymentus during the 2nd quarter worth approximately $226,000. Finally, KLP Kapitalforvaltning AS lifted its holdings in Paymentus by 26.3% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 7,200 shares of the business services provider’s stock worth $220,000 after purchasing an additional 1,500 shares during the last quarter. 78.38% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on PAY shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $36.00 price target on shares of Paymentus in a research report on Friday, March 6th. Robert W. Baird upped their target price on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Wedbush lifted their price target on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group dropped their price objective on Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Paymentus currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.
Paymentus Price Performance
Shares of NYSE:PAY opened at $26.70 on Tuesday. Paymentus Holdings, Inc. has a one year low of $22.02 and a one year high of $40.43. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 46.84 and a beta of 1.40. The firm has a 50 day simple moving average of $25.96 and a 200 day simple moving average of $28.90.
Paymentus (NYSE:PAY – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. During the same period in the prior 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. As a group, analysts expect that Paymentus Holdings, Inc. will post 0.65 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.
Read More
- Five stocks we like better than Paymentus
- Sell in May and Go Away—Starting With These 3 Stocks
- Before the Moon Base Gets Built, These 4 Companies Win
- Industrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases
- 3 Stocks That Win If Inflation Surprises to the Downside
Want to see what other hedge funds are holding PAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paymentus Holdings, Inc. (NYSE:PAY – Free Report).
Receive News & Ratings for Paymentus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paymentus and related companies with MarketBeat.com's FREE daily email newsletter.
