Globeflex Capital L P Purchases 26,786 Shares of Paymentus Holdings, Inc. $PAY

Globeflex Capital L P boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 42.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,740 shares of the business services provider’s stock after purchasing an additional 26,786 shares during the period. Globeflex Capital L P owned about 0.07% of Paymentus worth $2,835,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new position in Paymentus during the 3rd quarter worth about $33,000. Blue Trust Inc. increased its holdings in Paymentus by 186.8% during the 4th 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 in the last quarter. Orange County Employees Retirement System bought a new position in Paymentus during the 4th quarter worth about $150,000. Vident Advisory LLC bought a new position in Paymentus during the 2nd quarter worth about $204,000. Finally, Bayesian Capital Management LP bought a new position in Paymentus during the 2nd quarter worth about $226,000. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

PAY has been the subject of a number of research reports. Robert W. Baird increased their target price on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. The Goldman Sachs Group lowered their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a 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 report on Friday, March 6th. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Wedbush increased their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.20.

Paymentus Price Performance

Shares of NYSE PAY opened at $21.12 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 37.05 and a beta of 1.33. The business has a 50-day moving average of $25.46 and a 200-day moving average of $27.66. Paymentus Holdings, Inc. has a fifty-two week low of $20.74 and a fifty-two week high of $39.38.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $358.44 million during 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%.Paymentus’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. On average, sell-side analysts expect that Paymentus Holdings, Inc. will post 0.65 EPS 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.