William Blair Investment Management LLC Invests $16.13 Million in Paymentus Holdings, Inc. $PAY

William Blair Investment Management LLC purchased a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 510,498 shares of the business services provider’s stock, valued at approximately $16,127,000. William Blair Investment Management LLC owned 0.41% of Paymentus at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PAY. Royal Bank of Canada raised its position in shares of Paymentus by 26.8% during the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after purchasing an additional 38,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $425,000 after purchasing an additional 683 shares during the period. Millennium Management LLC raised its position in shares of Paymentus by 4.2% during the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after purchasing an additional 9,890 shares during the period. Goldman Sachs Group Inc. raised its position 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 worth $14,927,000 after purchasing an additional 419,736 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Paymentus by 34.7% during the second quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after purchasing an additional 6,616 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Price Performance

PAY stock opened at $23.45 on Tuesday. The business has a 50 day moving average price of $25.77 and a two-hundred day moving average price of $28.46. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 41.14 and a beta of 1.40. Paymentus Holdings, Inc. has a twelve month low of $22.02 and a twelve month high of $40.02.

Paymentus (NYSE:PAY) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The business’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. On average, equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PAY shares. The Goldman Sachs Group dropped their price target on Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $36.00 price target on shares of Paymentus in a research report on Friday, March 6th. Robert W. Baird raised their price target on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Wedbush raised their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.