Paymentus Holdings, Inc. $PAY Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP decreased its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,896,896 shares of the business services provider’s stock after selling 656,269 shares during the period. Paymentus comprises 1.3% of Wasatch Advisors LP’s investment portfolio, making the stock its 25th biggest position. Wasatch Advisors LP owned approximately 6.28% of Paymentus worth $200,581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Paymentus by 186.8% during the fourth 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 during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Paymentus during the fourth quarter worth about $80,000. Orange County Employees Retirement System purchased a new position in shares of Paymentus in the fourth quarter valued at approximately $150,000. Advisors Asset Management Inc. grew its holdings in shares of Paymentus by 26.0% in the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Vident Advisory LLC acquired a new position in shares of Paymentus in the second quarter valued at approximately $204,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Stock Performance

PAY opened at $23.32 on Friday. Paymentus Holdings, Inc. has a one year low of $20.11 and a one year high of $39.38. The company has a market cap of $2.93 billion, a P/E ratio of 40.92 and a beta of 1.33. The business’s 50-day simple moving average is $24.17 and its 200-day simple moving average is $26.21.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm 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%.The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. As a group, analysts predict that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAY. 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 downgraded shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wedbush upped 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. Finally, Robert W. Baird increased their price objective on Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.20.

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.