CenterBook Partners LP Purchases 78,864 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

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

A number of other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC bought a new position in shares of Paymentus during the 4th quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Paymentus by 2,763.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock valued at $54,000 after buying an additional 1,990 shares during the last quarter. Deutsche Bank AG purchased a new stake in Paymentus in the 4th quarter valued at about $73,000. Bessemer Group Inc. purchased a new stake in shares of Paymentus during the 1st quarter worth approximately $108,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Paymentus during the 4th quarter worth approximately $137,000. Institutional investors own 78.38% of the company's stock.

Insider Buying and Selling

In related news, Director William Ingram sold 11,409 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $38.01, for a total transaction of $433,656.09. Following the sale, the director owned 73,963 shares of the company's stock, valued at $2,811,333.63. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 75.43% of the stock is owned by insiders.

Paymentus Stock Up 0.8%

Shares of PAY traded up $0.28 during trading hours on Friday, reaching $33.99. 944,555 shares of the company traded hands, compared to its average volume of 753,293. Paymentus Holdings, Inc. has a 12 month low of $19.53 and a 12 month high of $40.43. The company's fifty day moving average price is $32.00 and its two-hundred day moving average price is $31.24. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 79.05 and a beta of 1.54.

Paymentus (NYSE:PAY - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The business services provider reported $0.15 EPS for the quarter, topping 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 business had revenue of $280.08 million for the quarter, compared to analyst estimates of $262.78 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Paymentus's quarterly revenue was up 41.9% on a year-over-year basis. On average, analysts expect that Paymentus Holdings, Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush set a $40.00 price objective on shares of Paymentus and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Raymond James Financial set a $38.00 price objective on shares of Paymentus and gave the company an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.