Adage Capital Partners GP L.L.C. Invests $2.34 Million in Paymentus Holdings, Inc. $PAY

Adage Capital Partners GP L.L.C. purchased a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 89,588 shares of the business services provider's stock, valued at approximately $2,338,000. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Paymentus as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAY. Driehaus Capital Management LLC boosted its position in shares of Paymentus by 152.3% during the first quarter. Driehaus Capital Management LLC now owns 1,897,552 shares of the business services provider's stock worth $49,526,000 after purchasing an additional 1,145,557 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Paymentus by 63,516.9% during the first quarter. TimesSquare Capital Management LLC now owns 675,612 shares of the business services provider's stock worth $17,633,000 after purchasing an additional 674,550 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Paymentus by 30.7% during the first quarter. Vanguard Group Inc. now owns 2,347,870 shares of the business services provider's stock worth $61,279,000 after purchasing an additional 551,211 shares in the last quarter. Invesco Ltd. boosted its position in shares of Paymentus by 81.5% during the first quarter. Invesco Ltd. now owns 1,051,664 shares of the business services provider's stock worth $27,448,000 after purchasing an additional 472,205 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Paymentus by 9,777.0% during the first quarter. Deutsche Bank AG now owns 221,639 shares of the business services provider's stock worth $5,785,000 after purchasing an additional 219,395 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Paymentus Price Performance

PAY stock traded down $0.48 during midday trading on Wednesday, hitting $35.16. The company's stock had a trading volume of 1,154,283 shares, compared to its average volume of 697,563. Paymentus Holdings, Inc. has a twelve month low of $19.53 and a twelve month high of $40.43. The company's fifty day moving average price is $33.33 and its 200 day moving average price is $32.19. The stock has a market capitalization of $4.40 billion, a P/E ratio of 81.78 and a beta of 1.58.

Paymentus (NYSE:PAY - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. The firm had revenue of $280.08 million for the quarter, compared to analyst estimates of $262.78 million. During the same period in the previous year, the business earned $0.12 EPS. The company's revenue was up 41.9% compared to the same quarter last year. Paymentus has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts expect that Paymentus Holdings, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PAY. Wolfe Research upgraded shares of Paymentus from a "peer perform" rating to an "outperform" rating in a report on Tuesday, July 22nd. Robert W. Baird raised their price objective on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Raymond James Financial set a $38.00 price objective on shares of Paymentus and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Paymentus from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Paymentus Company Profile

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.