Paymentus Holdings, Inc. (NYSE:PAY) Shares Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners LP significantly increased its stake in Paymentus Holdings by 1,282.6%, now holding 85,013 shares valued at about $2.2 million.
• Paymentus reported a 41.9% increase in quarterly revenue year-over-year, achieving $280.08 million and exceeding analyst estimates.
• The stock has a current market capitalization of $4.27 billion and is rated as a "Moderate Buy" by analysts, with an average price target of $37.00.

CenterBook Partners LP increased its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 1,282.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,013 shares of the business services provider's stock after purchasing an additional 78,864 shares during the period. CenterBook Partners LP owned 0.07% of Paymentus worth $2,219,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital International Investors lifted its stake in shares of Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock worth $142,509,000 after acquiring an additional 888,914 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Paymentus in the 4th quarter worth $24,568,000. TimesSquare Capital Management LLC lifted its stake in shares of Paymentus by 63,516.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 675,612 shares of the business services provider's stock worth $17,633,000 after acquiring an additional 674,550 shares during the period. Vanguard Group Inc. lifted its stake in shares of Paymentus by 30.7% in the 1st quarter. Vanguard Group Inc. now owns 2,347,870 shares of the business services provider's stock worth $61,279,000 after acquiring an additional 551,211 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Paymentus by 246.2% in the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after acquiring an additional 412,095 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAY. Wells Fargo & Company raised their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Robert W. Baird raised their target price on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group increased their price target on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Wolfe Research upgraded shares of Paymentus from a "peer perform" rating to an "outperform" rating in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.00.

Paymentus Stock Performance

NYSE:PAY traded down $0.05 during mid-day trading on Monday, hitting $33.87. 211,194 shares of the company's stock traded hands, compared to its average volume of 567,360. The firm's 50 day simple moving average is $32.00 and its 200 day simple moving average is $31.24. Paymentus Holdings, Inc. has a 1 year low of $19.53 and a 1 year high of $40.43. The company has a market cap of $4.24 billion, a PE ratio of 78.78 and a beta of 1.54.

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

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.