Vanguard Group Inc. Purchases 753,281 Shares of Paymentus Holdings, Inc. $PAY

Vanguard Group Inc. grew its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,391,890 shares of the business services provider’s stock after purchasing an additional 753,281 shares during the period. Vanguard Group Inc. owned about 3.50% of Paymentus worth $138,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PAY. Capital International Investors boosted its stake in Paymentus by 17.6% during the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after buying an additional 1,072,387 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Paymentus by 210.1% in the 3rd quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock valued at $143,640,000 after buying an additional 3,180,156 shares in the last quarter. Invesco Ltd. raised its stake in shares of Paymentus by 115.8% in the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after buying an additional 2,032,819 shares in the last quarter. Capital World Investors lifted its holdings in shares of Paymentus by 14.6% during the 3rd quarter. Capital World Investors now owns 2,393,613 shares of the business services provider’s stock worth $73,245,000 after acquiring an additional 304,399 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Paymentus by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,984,828 shares of the business services provider’s stock valued at $60,736,000 after acquiring an additional 186,606 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Price Performance

PAY opened at $26.70 on Tuesday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 46.84 and a beta of 1.40. The company’s 50 day simple moving average is $25.96 and its 200-day simple moving average is $28.90. Paymentus Holdings, Inc. has a one year low of $22.02 and a one year high of $40.43.

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 company had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. As a group, analysts anticipate that Paymentus Holdings, Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wedbush increased their price target on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Robert W. Baird increased their target price on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, 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 research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paymentus has a consensus rating of “Moderate Buy” and a consensus 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.