Paymentus Holdings, Inc. $PAY Shares Purchased by Capital International Investors

Capital International Investors boosted its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,655,433 shares of the business services provider’s stock after acquiring an additional 474,780 shares during the period. Capital International Investors owned 6.10% of Paymentus worth $241,835,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new position in Paymentus in the 4th quarter valued at about $80,000. Globeflex Capital L P increased its position in Paymentus by 42.5% during the 4th quarter. Globeflex Capital L P now owns 89,740 shares of the business services provider’s stock worth $2,835,000 after purchasing an additional 26,786 shares during the period. State of Wyoming increased its position in Paymentus by 36.5% during the 4th quarter. State of Wyoming now owns 19,756 shares of the business services provider’s stock worth $624,000 after purchasing an additional 5,287 shares during the period. Orange County Employees Retirement System acquired a new position in Paymentus during the 4th quarter worth approximately $150,000. Finally, Geode Capital Management LLC increased its position in Paymentus by 24.1% during the 4th quarter. Geode Capital Management LLC now owns 666,049 shares of the business services provider’s stock worth $21,047,000 after purchasing an additional 129,174 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAY. Wedbush boosted their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group dropped their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and set a $36.00 target price on shares of Paymentus in a research report on Friday, March 6th. Robert W. Baird boosted their target price on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Paymentus Price Performance

PAY opened at $20.50 on Tuesday. The stock has a market cap of $2.58 billion, a P/E ratio of 35.97 and a beta of 1.33. The stock’s 50 day simple moving average is $25.29 and its 200 day simple moving average is $27.45. Paymentus Holdings, Inc. has a 1-year low of $20.44 and a 1-year high of $39.38.

Paymentus (NYSE:PAY) last released its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts expect that Paymentus Holdings, Inc. will post 0.65 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.