9,500 Shares in Paymentus Holdings, Inc. $PAY Bought by Cannon Global Investment Management LLC

Key Points

• Cannon Global Investment Management LLC acquired 9,500 shares of Paymentus Holdings, valued at approximately $311,000, indicating growing interest from institutional investors in the company.
• Paymentus reported a 41.9% increase in revenue year-over-year, reaching $280.08 million, and exceeded earnings expectations with $0.15 EPS compared to the estimated $0.14.
• Analysts show a mixed sentiment towards Paymentus, with a consensus rating of "Hold" and a price target of $37.00, while several firms have upgraded their ratings to "Buy" or "Outperform".

Cannon Global Investment Management LLC purchased a new position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,500 shares of the business services provider's stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Paymentus in the first quarter worth $471,000. Bessemer Group Inc. bought a new stake in shares of Paymentus in the first quarter worth $108,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Paymentus by 2,763.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock worth $54,000 after buying an additional 1,990 shares during the last quarter. Next Century Growth Investors LLC boosted its holdings in Paymentus by 5.4% in the first quarter. Next Century Growth Investors LLC now owns 1,356,980 shares of the business services provider's stock worth $35,417,000 after purchasing an additional 69,156 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in Paymentus in the second quarter worth $681,000. Institutional investors own 78.38% of the company's stock.

Paymentus Stock Performance

Shares of PAY opened at $29.35 on Friday. Paymentus Holdings, Inc. has a 1 year low of $22.65 and a 1 year high of $40.43. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 68.25 and a beta of 1.51. The firm has a fifty day moving average of $34.25 and a 200-day moving average of $32.99.

Paymentus (NYSE:PAY - Get Free Report) last announced 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 company had revenue of $280.08 million during the quarter, compared to the consensus estimate of $262.78 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company's revenue for the quarter 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. Analysts predict that Paymentus Holdings, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on PAY. Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. 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. Wolfe Research raised shares of Paymentus from a "peer perform" rating to an "outperform" rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Paymentus in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Paymentus currently has a consensus rating of "Hold" 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.

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