Pictet Asset Management Holding SA Has $209,000 Stock Holdings in Paymentus Holdings, Inc. $PAY

Pictet Asset Management Holding SA trimmed its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 74.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,227 shares of the business services provider’s stock after selling 24,592 shares during the period. Pictet Asset Management Holding SA’s holdings in Paymentus were worth $209,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PAY. Royal Bank of Canada grew its holdings in shares of Paymentus by 26.8% during the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after purchasing an additional 38,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 683 shares in the last quarter. Millennium Management LLC lifted its position in Paymentus by 4.2% in the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after purchasing an additional 9,890 shares during the period. Goldman Sachs Group Inc. lifted its position in Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after purchasing an additional 419,736 shares during the period. Finally, Legal & General Group Plc boosted its stake in Paymentus by 34.7% during the second quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after buying an additional 6,616 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAY. Robert W. Baird boosted their price target on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Wedbush lifted their target price on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Paymentus has an average rating of “Moderate Buy” and a consensus target price of $35.20.

Paymentus Stock Performance

PAY opened at $28.88 on Tuesday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 50.67 and a beta of 1.31. The firm’s 50-day simple moving average is $23.94 and its 200-day simple moving average is $25.79. Paymentus Holdings, Inc. has a twelve month low of $20.11 and a twelve month high of $39.38.

Paymentus (NYSE:PAY) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. As a group, sell-side analysts anticipate that Paymentus Holdings, Inc. will post 0.65 EPS for the current fiscal year.

Paymentus Company 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.