Capital World Investors Boosts Stake in Paymentus Holdings, Inc. $PAY

Capital World Investors increased its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 14.6% in the 3rd quarter, Holdings Channel reports. The fund owned 2,393,613 shares of the business services provider’s stock after buying an additional 304,399 shares during the quarter. Capital World Investors’ holdings in Paymentus were worth $73,245,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP purchased a new stake in Paymentus during the second quarter valued at about $49,582,000. Capital International Investors grew its holdings in shares of Paymentus by 17.6% in the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after purchasing an additional 1,072,387 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Paymentus by 33.0% in the third quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock valued at $111,341,000 after acquiring an additional 903,627 shares during the period. Invesco Ltd. increased its holdings in Paymentus by 66.9% during the 2nd quarter. Invesco Ltd. now owns 1,755,271 shares of the business services provider’s stock valued at $57,485,000 after purchasing an additional 703,607 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Paymentus by 275.8% during the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after acquiring an additional 419,736 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Paymentus Trading Down 5.4%

PAY stock opened at $24.14 on Friday. The stock’s 50 day simple moving average is $26.67 and its 200 day simple moving average is $30.98. Paymentus Holdings, Inc. has a 12-month low of $22.02 and a 12-month high of $40.43. The stock has a market capitalization of $3.03 billion, a PE ratio of 46.41 and a beta of 1.50.

Wall Street Analyst Weigh In

PAY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Finally, The Goldman Sachs Group lowered their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Paymentus presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

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.