Oppenheimer Asset Management Inc. Boosts Stake in Paymentus Holdings, Inc. $PAY

Oppenheimer Asset Management Inc. lifted its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 139.1% in the 4th quarter, Holdings Channel reports. The firm owned 94,536 shares of the business services provider’s stock after acquiring an additional 55,005 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Paymentus were worth $2,986,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd purchased a new position in shares of Paymentus in the third quarter worth $33,000. Blue Trust Inc. raised its stake in shares of Paymentus by 186.8% in 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 last quarter. Vident Advisory LLC purchased a new position in shares of Paymentus in the second quarter worth $204,000. KLP Kapitalforvaltning AS raised its stake in shares of Paymentus by 26.3% in the third quarter. KLP Kapitalforvaltning AS now owns 7,200 shares of the business services provider’s stock worth $220,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Paymentus in the second quarter worth $226,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PAY shares. Wedbush decreased their price target on Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a research report on Friday, March 6th. Finally, The Goldman Sachs Group reduced 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Paymentus has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Paymentus Stock Performance

Paymentus stock opened at $27.76 on Monday. The stock has a market cap of $3.49 billion, a PE ratio of 53.38 and a beta of 1.40. Paymentus Holdings, Inc. has a one year low of $22.02 and a one year high of $40.43. The stock has a fifty day moving average of $25.75 and a 200 day moving average of $28.99.

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.