Oppenheimer Asset Management Inc. Purchases Shares of 39,531 Paymentus Holdings, Inc. $PAY

Oppenheimer Asset Management Inc. acquired a new position in Paymentus Holdings, Inc. (NYSE:PAY) during the third quarter, HoldingsChannel reports. The institutional investor acquired 39,531 shares of the business services provider’s stock, valued at approximately $1,210,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. lifted its position in Paymentus by 66.9% in the second quarter. Invesco Ltd. now owns 1,755,271 shares of the business services provider’s stock worth $57,485,000 after buying an additional 703,607 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of Paymentus during the 2nd quarter worth approximately $49,582,000. TimesSquare Capital Management LLC boosted its stake in shares of Paymentus by 15.7% during the second quarter. TimesSquare Capital Management LLC now owns 781,609 shares of the business services provider’s stock valued at $25,598,000 after purchasing an additional 105,997 shares during the period. Goldman Sachs Group Inc. increased its stake in Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after buying an additional 419,736 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Paymentus by 83.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 451,730 shares of the business services provider’s stock valued at $14,794,000 after buying an additional 206,130 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Price Performance

Shares of NYSE:PAY opened at $23.09 on Friday. The firm has a market capitalization of $2.90 billion, a PE ratio of 50.20 and a beta of 1.49. The firm’s 50-day moving average is $29.31 and its two-hundred day moving average is $32.21. Paymentus Holdings, Inc. has a 1 year low of $22.65 and a 1 year high of $40.43.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Finally, JPMorgan Chase & Co. raised their price target on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

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.