Hussman Strategic Advisors Inc. Acquires 31,500 Shares of Paymentus Holdings, Inc. $PAY

Hussman Strategic Advisors Inc. raised its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 75.0% during the third quarter, Holdings Channel reports. The fund owned 73,500 shares of the business services provider’s stock after buying an additional 31,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Paymentus were worth $2,249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advantage Alpha Capital Partners LP bought a new position in Paymentus during the second quarter valued at $2,553,000. Marshall Wace LLP raised its stake in shares of Paymentus by 42.0% in the second quarter. Marshall Wace LLP now owns 308,594 shares of the business services provider’s stock valued at $10,106,000 after buying an additional 91,342 shares during the period. Jump Financial LLC lifted its position in shares of Paymentus by 63.5% during the 2nd quarter. Jump Financial LLC now owns 129,029 shares of the business services provider’s stock valued at $4,226,000 after buying an additional 50,129 shares during the last quarter. Adams Street Partners LLC grew its stake in shares of Paymentus by 318.8% during the 2nd quarter. Adams Street Partners LLC now owns 305,568 shares of the business services provider’s stock worth $10,007,000 after acquiring an additional 232,600 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Paymentus by 570.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 208,535 shares of the business services provider’s stock worth $6,830,000 after acquiring an additional 177,424 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Paymentus Trading Down 0.5%

Shares of Paymentus stock opened at $29.40 on Wednesday. The company’s 50-day moving average price is $31.66 and its 200-day moving average price is $32.58. Paymentus Holdings, Inc. has a 12-month low of $22.65 and a 12-month high of $40.43. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 63.92 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PAY. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

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.