North Reef Capital Management LP Acquires New Position in Paymentus Holdings, Inc. $PAY

North Reef Capital Management LP acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY) in the first quarter, HoldingsChannel.com reports. The fund acquired 734,551 shares of the business services provider’s stock, valued at approximately $18,658,000.

A number of other hedge funds also recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Paymentus during the 1st quarter worth approximately $41,000. Blue Trust Inc. lifted its position in Paymentus by 186.8% during the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after buying an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Paymentus during the fourth quarter worth approximately $80,000. Orange County Employees Retirement System acquired a new position in Paymentus during the fourth quarter worth $150,000. Finally, Advisors Asset Management Inc. boosted its stake in Paymentus by 26.0% during the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after buying an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Trading Up 0.1%

Shares of NYSE:PAY opened at $28.79 on Friday. The business has a 50-day moving average price of $24.49 and a 200 day moving average price of $25.70. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 50.52 and a beta of 1.31. Paymentus Holdings, Inc. has a 12-month low of $20.11 and a 12-month high of $39.38.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The company had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. Paymentus’s revenue for the quarter was up 30.2% compared to the same quarter last year. As a group, equities research analysts predict that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wedbush boosted their price target 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, Robert W. Baird upped their price objective on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of “Moderate Buy” and an average target price 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.