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 filing with the Securities and Exchange Commission. The institutional investor 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 0.07% of Paymentus at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PAY. Northern Trust Corp raised its position in shares of Paymentus by 7.3% during the 4th quarter. Northern Trust Corp now owns 107,824 shares of the business services provider's stock worth $3,523,000 after purchasing an additional 7,342 shares during the period. Comerica Bank increased its position in Paymentus by 170.3% in the 4th quarter. Comerica Bank now owns 15,607 shares of the business services provider's stock valued at $510,000 after acquiring an additional 9,833 shares during the period. BNP Paribas Financial Markets acquired a new stake in Paymentus in the 4th quarter valued at approximately $1,987,000. Bank of America Corp DE increased its position in Paymentus by 83.9% in the 4th quarter. Bank of America Corp DE now owns 14,096 shares of the business services provider's stock valued at $461,000 after acquiring an additional 6,429 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Paymentus by 50.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 25,471 shares of the business services provider's stock valued at $832,000 after acquiring an additional 8,497 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Paymentus Stock Down 0.3%

NYSE PAY traded down $0.09 on Friday, reaching $32.81. 1,016,924 shares of the stock traded hands, compared to its average volume of 770,090. The firm's fifty day simple moving average is $33.37 and its 200 day simple moving average is $32.30. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 76.31 and a beta of 1.58. Paymentus Holdings, Inc. has a 12 month low of $19.53 and a 12 month high of $40.43.

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 analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $280.08 million during the quarter, compared to analyst estimates of $262.78 million. Paymentus had a return on equity of 12.63% and a net margin of 5.37%.The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. Paymentus has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts forecast that Paymentus Holdings, Inc. will post 0.39 EPS for the current fiscal year.

About Paymentus

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.