Granite Investment Partners LLC Invests $8.16 Million in Paymentus Holdings, Inc. $PAY

Granite Investment Partners LLC purchased a new stake in Paymentus Holdings, Inc. (NYSE:PAY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 266,499 shares of the business services provider’s stock, valued at approximately $8,155,000. Granite Investment Partners LLC owned approximately 0.21% of Paymentus at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Tredje AP fonden acquired a new position in Paymentus during the third quarter worth $470,000. CenterBook Partners LP grew its holdings in shares of Paymentus by 51.7% in the 3rd quarter. CenterBook Partners LP now owns 41,443 shares of the business services provider’s stock worth $1,268,000 after purchasing an additional 14,119 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Paymentus by 1.6% during the 3rd quarter. GSA Capital Partners LLP now owns 40,554 shares of the business services provider’s stock worth $1,241,000 after purchasing an additional 632 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Paymentus by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock worth $111,341,000 after purchasing an additional 903,627 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Paymentus by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 623,586 shares of the business services provider’s stock valued at $19,082,000 after purchasing an additional 14,373 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAY has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Raymond James Financial raised Paymentus from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Finally, Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Paymentus Trading Up 6.6%

Shares of NYSE PAY opened at $26.05 on Monday. Paymentus Holdings, Inc. has a 1-year low of $22.65 and a 1-year high of $40.43. The company has a 50-day moving average of $28.34 and a two-hundred day moving average of $32.02. The company has a market cap of $3.27 billion, a PE ratio of 56.64 and a beta of 1.49.

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.