Wasatch Advisors LP Has $149.51 Million Stock Holdings in Paymentus Holdings, Inc. $PAY

Wasatch Advisors LP trimmed its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 21.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,188,196 shares of the business services provider’s stock after selling 1,708,700 shares during the quarter. Wasatch Advisors LP’s holdings in Paymentus were worth $149,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. increased its position in Paymentus by 0.7% during the 2nd 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 during the period. The Manufacturers Life Insurance Company raised its holdings in Paymentus by 7.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock worth $253,000 after purchasing an additional 665 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after purchasing an additional 683 shares during the period. LVZ Inc. lifted its position in shares of Paymentus by 5.5% in the 1st quarter. LVZ Inc. now owns 13,760 shares of the business services provider’s stock worth $350,000 after purchasing an additional 713 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Paymentus by 6.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 14,000 shares of the business services provider’s stock worth $442,000 after purchasing an additional 900 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 2,909 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total value of $117,087.25. Following the transaction, the chief financial officer directly owned 505,597 shares of the company’s stock, valued at approximately $20,350,279.25. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Trainor sold 80,000 shares of Paymentus stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the transaction, the director owned 509,888 shares of the company’s stock, valued at $20,798,331.52. This represents a 13.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 147,909 shares of company stock valued at $5,735,337 in the last 90 days. 55.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAY. Robert W. Baird increased their price objective on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Wedbush upped 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. The Goldman Sachs Group upped their price target on shares of Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Finally, Wolfe Research reiterated an “outperform” rating and set a $44.00 price target on shares of Paymentus in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Paymentus currently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Paymentus Stock Performance

Shares of Paymentus stock opened at $40.74 on Wednesday. The stock has a market capitalization of $5.12 billion, a PE ratio of 61.73 and a beta of 1.28. Paymentus Holdings, Inc. has a 52 week low of $20.11 and a 52 week high of $45.31. The stock has a 50 day moving average price of $27.79 and a two-hundred day moving average price of $26.33.

Paymentus (NYSE:PAY) last issued its earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The company had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. During the same period in the prior year, the firm earned $0.11 earnings per share. Paymentus’s revenue for the quarter was up 28.8% on a year-over-year basis. Research analysts forecast that Paymentus Holdings, Inc. will post 0.77 EPS for the current 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.