Capital World Investors Increases Stake in Paymentus Holdings, Inc. $PAY

Capital World Investors raised its position in Paymentus Holdings, Inc. (NYSE:PAY) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,499,583 shares of the business services provider’s stock after purchasing an additional 105,970 shares during the period. Capital World Investors owned 1.99% of Paymentus worth $78,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAY. Royal Bank of Canada increased its stake in shares of Paymentus by 26.8% in the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after acquiring an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after acquiring an additional 683 shares during the last quarter. Millennium Management LLC increased its stake in shares of Paymentus by 4.2% in the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after acquiring an additional 9,890 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after acquiring an additional 419,736 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Paymentus by 34.7% in the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after acquiring an additional 6,616 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PAY shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th. Robert W. Baird raised their price objective on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group cut 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. Finally, Wedbush raised their price objective on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Paymentus presently has an average rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Price Performance

Shares of Paymentus stock opened at $21.13 on Wednesday. The business has a 50-day moving average of $25.22 and a 200 day moving average of $27.35. Paymentus Holdings, Inc. has a 12 month low of $20.33 and a 12 month high of $39.38. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 37.07 and a beta of 1.33.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. During the same period last year, the business posted $0.14 EPS. Paymentus’s revenue for the quarter was up 30.2% on a year-over-year basis. Equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current year.

About Paymentus

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.