61,901 Shares of Paymentus Holdings, Inc. $PAY Purchased by Calamos Advisors LLC

Key Points

• Calamos Advisors opened a new position in Paymentus, purchasing 61,901 shares worth approximately $1.9 million in the third quarter.
• Paymentus beat quarterly earnings and revenue estimates, reporting EPS of $0.25 versus $0.21 expected and revenue of $372.2 million, up 19.8% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $38.86; institutional investors collectively own 78.38% of the company’s shares.

Calamos Advisors LLC bought a new position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,901 shares of the business services provider's stock, valued at approximately $1,897,000.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Paymentus by 42.3% in the first quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider's stock worth $21,227,000 after purchasing an additional 248,514 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Paymentus by 77.1% during the first quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider's stock valued at $1,629,000 after purchasing an additional 27,921 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Paymentus by 155.1% during the first quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider's stock valued at $8,890,000 after buying an additional 212,778 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Paymentus during the second quarter valued at $2,008,000. Finally, Lazard Asset Management LLC boosted its position in shares of Paymentus by 83.8% during the first quarter. Lazard Asset Management LLC now owns 72,999 shares of the business services provider's stock valued at $1,854,000 after buying an additional 33,278 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Paymentus Price Performance

Shares of PAY stock opened at $34.19 on Tuesday. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 46.84 and a beta of 1.35. Paymentus Holdings, Inc. has a one year low of $20.11 and a one year high of $45.31. The company's fifty day moving average price is $33.14 and its 200-day moving average price is $28.94.

Paymentus (NYSE:PAY - Get Free Report) last issued its earnings results on Monday, November 2nd. The business services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Paymentus had a net margin of 6.65% and a return on equity of 16.14%. The company had revenue of $372.18 million during the quarter, compared to the consensus estimate of $358.87 million. During the same quarter in the prior year, the firm posted $0.20 EPS. Paymentus's quarterly revenue was up 19.8% compared to the same quarter last year. Equities research analysts expect that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PAY shares. Wolfe Research lowered Paymentus from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, August 25th. The Goldman Sachs Group raised their price objective on shares of Paymentus from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Yorkville Ives initiated coverage on Paymentus in a report on Tuesday, October 6th. They issued an "outperform" rating and a $40.00 target price on the stock. Weiss Ratings downgraded Paymentus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, November 4th. Finally, Robert W. Baird boosted their price target on Paymentus from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Paymentus has an average rating of "Moderate Buy" and a consensus target price of $38.86.

Paymentus Profile

Paymentus Holdings, Inc provides cloud-based billing and payment technology for businesses and public-sector organizations. Its platform helps billers present bills, accept and process payments, and communicate with customers through digital and other payment channels.

The company serves organizations in sectors such as utilities, financial services, government, healthcare, insurance, and telecommunications. Its services support multiple payment methods and are designed to integrate with clients' billing and customer-management systems.

Founded in 2004, Paymentus is headquartered in Charlotte, North Carolina, and serves clients primarily in the United States and Canada.

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