Globeflex Capital L P Invests $2.13 Million in Paymentus Holdings, Inc. $PAY

Globeflex Capital L P bought a new position in Paymentus Holdings, Inc. (NYSE:PAY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 88,313 shares of the business services provider’s stock, valued at approximately $2,134,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its holdings in shares of Paymentus by 82.2% in the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock valued at $270,194,000 after buying an additional 3,859,056 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after acquiring an additional 2,032,819 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Paymentus during the 4th quarter worth $60,452,000. Brown Brothers Harriman & Co. grew its holdings in shares of Paymentus by 148.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after acquiring an additional 943,244 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Paymentus by 20.7% in the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after acquiring an additional 753,281 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Transactions at Paymentus

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

Paymentus Stock Down 0.3%

Shares of NYSE:PAY opened at $39.88 on Monday. The company’s fifty day moving average is $30.87 and its two-hundred day moving average is $26.99. The company has a market cap of $5.02 billion, a P/E ratio of 60.43 and a beta of 1.29. Paymentus Holdings, Inc. has a 12-month low of $20.11 and a 12-month high of $45.31.

Paymentus (NYSE:PAY) last issued its earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The business had revenue of $360.74 million during the quarter, compared to analysts’ expectations of $345.44 million. During the same quarter last year, the firm posted $0.11 earnings per share. Paymentus’s revenue was up 28.8% compared to the same quarter last year. Equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Robert W. Baird lifted their price target on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Wedbush lifted their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Paymentus in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

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.