Lisanti Capital Growth LLC Lowers Stake in Paymentus Holdings, Inc. $PAY

Lisanti Capital Growth LLC cut its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 88.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,430 shares of the business services provider’s stock after selling 106,743 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Paymentus were worth $456,000 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. Wasatch Advisors LP grew its holdings in shares of Paymentus by 210.1% during the third quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock worth $143,640,000 after buying an additional 3,180,156 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after buying an additional 2,032,819 shares in the last quarter. Capital International Investors grew its holdings in shares of 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. Vanguard Group Inc. grew its holdings in shares of Paymentus by 33.0% during the third quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock worth $111,341,000 after buying an additional 903,627 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Paymentus during the third quarter worth about $19,503,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAY has been the subject of a number of recent research reports. Wedbush lifted their price target on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Robert W. Baird lifted their price target on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $36.00 price target on shares of Paymentus in a report on Friday, March 6th. Finally, The Goldman Sachs Group decreased their target price on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. One equities 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’s stock. According to data from MarketBeat, Paymentus currently has an average rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Price Performance

Shares of PAY stock opened at $23.45 on Monday. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 41.14 and a beta of 1.40. Paymentus Holdings, Inc. has a fifty-two week low of $22.02 and a fifty-two week high of $40.02. The firm’s 50 day moving average price is $25.79 and its two-hundred day moving average price is $28.55.

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