Ellsworth Advisors LLC Takes Position in Paymentus Holdings, Inc. $PAY

Ellsworth Advisors LLC purchased a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 22,260 shares of the business services provider’s stock, valued at approximately $664,000.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Paymentus by 570.8% during the 1st quarter. Russell Investments Group Ltd. now owns 25,556 shares of the business services provider’s stock valued at $667,000 after acquiring an additional 21,746 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Paymentus by 152,600.0% during the 1st quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock worth $40,000 after purchasing an additional 1,526 shares in the last quarter. State of Wyoming increased its stake in shares of Paymentus by 106.1% during the 1st quarter. State of Wyoming now owns 18,331 shares of the business services provider’s stock worth $478,000 after purchasing an additional 9,436 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of Paymentus by 104.7% during the 1st quarter. Graham Capital Management L.P. now owns 26,184 shares of the business services provider’s stock worth $683,000 after purchasing an additional 13,395 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Paymentus by 26.8% in 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 buying an additional 38,731 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PAY. JPMorgan Chase & Co. raised their price target on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Paymentus Trading Down 0.5%

PAY stock opened at $31.47 on Friday. The company has a market cap of $3.95 billion, a PE ratio of 68.42 and a beta of 1.48. The stock has a 50-day moving average price of $33.16 and a two-hundred day moving average price of $32.94. Paymentus Holdings, Inc. has a 12-month low of $22.65 and a 12-month high of $40.43.

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.