Brown Brothers Harriman & Co. Acquires New Shares in Paymentus Holdings, Inc. $PAY

Key Points

• Brown Brothers Harriman & Co. opened a new position in Paymentus (NYSE:PAY), buying 637,349 shares valued at about $19.5 million, equal to roughly 0.51% of the company.
• Other large institutions — including Capital International, Invesco, Vanguard, Capital World Investors and Franklin Resources — also increased stakes in Q3, and institutional investors now own about 78.38% of the stock.
• Wall Street sentiment is mixed but mildly positive with a consensus "Moderate Buy" and an average price target of $35.50, while the stock trades near $24.40 and sits in a 52-week range of $22.02–$40.43.

Brown Brothers Harriman & Co. bought a new position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 637,349 shares of the business services provider's stock, valued at approximately $19,503,000. Brown Brothers Harriman & Co. owned approximately 0.51% of Paymentus as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital International Investors increased its stake in shares of Paymentus by 17.6% in the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider's stock valued at $219,728,000 after buying an additional 1,072,387 shares during the period. Invesco Ltd. increased its position in Paymentus by 115.8% in the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider's stock valued at $115,916,000 after acquiring an additional 2,032,819 shares during the period. Vanguard Group Inc. increased its position in Paymentus by 33.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider's stock valued at $111,341,000 after acquiring an additional 903,627 shares during the period. Capital World Investors raised its stake in shares of Paymentus by 14.6% during the third quarter. Capital World Investors now owns 2,393,613 shares of the business services provider's stock valued at $73,245,000 after acquiring an additional 304,399 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Paymentus by 10.4% during the third quarter. Franklin Resources Inc. now owns 1,984,828 shares of the business services provider's stock worth $60,736,000 after purchasing an additional 186,606 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PAY. The Goldman Sachs Group reduced their price objective on shares of Paymentus from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 24th. JPMorgan Chase & Co. raised their price objective on Paymentus from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday, December 4th. Wedbush cut their price objective on Paymentus from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Wall Street Zen upgraded shares of Paymentus from a "hold" rating to a "buy" rating in a report on Sunday, February 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Paymentus has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Paymentus Stock Up 1.2%

NYSE PAY opened at $24.40 on Friday. Paymentus Holdings, Inc. has a 52 week low of $22.02 and a 52 week high of $40.43. The business has a 50 day moving average price of $26.59 and a 200-day moving average price of $30.89. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 46.92 and a beta of 1.50.

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.

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