Oppenheimer Asset Management Inc. Purchases 55,005 Shares of Paymentus Holdings, Inc. $PAY

Oppenheimer Asset Management Inc. lifted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 139.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,536 shares of the business services provider’s stock after purchasing an additional 55,005 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Paymentus worth $2,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. boosted its position in shares of Paymentus by 0.7% during the second quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider’s stock valued at $1,834,000 after purchasing an additional 413 shares in the last quarter. GSA Capital Partners LLP raised its stake in Paymentus by 1.6% during the third quarter. GSA Capital Partners LLP now owns 40,554 shares of the business services provider’s stock valued at $1,241,000 after buying an additional 632 shares during the last quarter. Hamilton Lane Advisors LLC raised its stake in Paymentus by 7.8% during the fourth quarter. Hamilton Lane Advisors LLC now owns 9,303 shares of the business services provider’s stock valued at $294,000 after buying an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Paymentus by 4.4% during 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 buying an additional 683 shares during the last quarter. Finally, Palisades Investment Partners LLC raised its stake in Paymentus by 0.5% during the third quarter. Palisades Investment Partners LLC now owns 195,998 shares of the business services provider’s stock valued at $5,998,000 after buying an additional 962 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Price Performance

PAY stock opened at $27.76 on Monday. Paymentus Holdings, Inc. has a 1-year low of $22.02 and a 1-year high of $40.43. The business has a fifty day moving average price of $25.75 and a 200-day moving average price of $28.99. The stock has a market capitalization of $3.49 billion, a P/E ratio of 53.38 and a beta of 1.40.

Analysts Set New Price Targets

PAY has been the subject of a number of recent research reports. Raymond James Financial reiterated a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. Wedbush lowered their price objective 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 note on Sunday, February 8th. 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 analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Paymentus currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

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.