California State Teachers Retirement System Grows Stock Holdings in Paymentus Holdings, Inc. $PAY

Key Points

• California State Teachers Retirement System increased its Paymentus stake by 77.1% in the first quarter to 64,131 shares valued at approximately $1.63 million. Institutional investors collectively own 78.38% of the company.
• Paymentus exceeded quarterly expectations, reporting $0.25 EPS and $360.74 million in revenue, with revenue up 28.8% year over year. Analysts expect about $0.77 in EPS for the current year.
• Insiders sold 147,909 shares worth $5.74 million over the past 90 days, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $38.67.

California State Teachers Retirement System grew its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 77.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,131 shares of the business services provider's stock after buying an additional 27,921 shares during the period. California State Teachers Retirement System owned 0.05% of Paymentus worth $1,629,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAY. Wasatch Advisors LP raised its stake in shares of Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider's stock worth $270,194,000 after acquiring an additional 3,859,056 shares in the last quarter. Invesco Ltd. boosted its stake in Paymentus by 115.8% in the third 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 in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Paymentus in the fourth quarter valued at approximately $60,452,000. Brown Brothers Harriman & Co. boosted its stake in Paymentus by 148.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider's stock valued at $49,931,000 after acquiring an additional 943,244 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Paymentus by 20.7% in the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider's stock worth $138,740,000 after purchasing an additional 753,281 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 25,000 shares of Paymentus stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the completion of the sale, the chief financial officer owned 508,506 shares of the company's stock, valued at approximately $20,955,532.26. The trade was a 4.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary Trainor sold 80,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total value of $3,263,200.00. Following the completion of the transaction, the director directly owned 509,888 shares in the company, valued at $20,798,331.52. This represents a 13.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,909 shares of company stock valued at $5,735,337 in the last 90 days. 55.75% of the stock is currently owned by company insiders.

Paymentus Stock Down 0.5%

PAY stock opened at $40.41 on Thursday. The stock has a market capitalization of $5.08 billion, a PE ratio of 61.23 and a beta of 1.29. Paymentus Holdings, Inc. has a 52 week low of $20.11 and a 52 week high of $45.31. The firm has a 50 day moving average of $28.18 and a 200 day moving average of $26.40.

Paymentus (NYSE:PAY - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The business had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. During the same quarter in the prior year, the business posted $0.11 EPS. Paymentus's revenue for the quarter was up 28.8% compared to the same quarter last year. On average, equities research analysts expect that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current year.

Analysts Set New Price Targets

PAY has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Paymentus from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Wedbush raised their price objective on Paymentus from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Wolfe Research restated an "outperform" rating and set a $44.00 target price on shares of Paymentus in a research note on Tuesday, August 4th. Robert W. Baird upped their target price on Paymentus from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised Paymentus from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.67.

About Paymentus

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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