Globeflex Capital L P Buys 26,786 Shares of Paymentus Holdings, Inc. $PAY

Globeflex Capital L P boosted its position in Paymentus Holdings, Inc. (NYSE:PAY) by 42.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 89,740 shares of the business services provider’s stock after purchasing an additional 26,786 shares during the period. Globeflex Capital L P’s holdings in Paymentus were worth $2,835,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in Paymentus in the 3rd quarter valued at about $33,000. Blue Trust Inc. lifted its stake in Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,319 shares during the last quarter. Orange County Employees Retirement System acquired a new stake in Paymentus in the 4th quarter valued at about $150,000. Vident Advisory LLC acquired a new stake in Paymentus in the 2nd quarter valued at about $204,000. Finally, Bayesian Capital Management LP acquired a new stake in Paymentus in the 2nd quarter valued at about $226,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Up 0.0%

Shares of PAY stock opened at $21.12 on Friday. The firm has a 50 day moving average price of $25.46 and a two-hundred day moving average price of $27.66. The company has a market capitalization of $2.66 billion, a PE ratio of 37.05 and a beta of 1.33. Paymentus Holdings, Inc. has a 12-month low of $20.74 and a 12-month high of $39.38.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.78% and a return on equity of 13.75%. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. As a group, research analysts expect that Paymentus Holdings, Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

PAY has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. The Goldman Sachs Group cut their target price on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Wedbush raised their target price on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Paymentus presently has an average rating of “Moderate Buy” and an average target price of $35.20.

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.