Dimensional Fund Advisors LP Purchases 248,514 Shares of Paymentus Holdings, Inc. $PAY

Dimensional Fund Advisors LP raised its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 42.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 835,799 shares of the business services provider's stock after purchasing an additional 248,514 shares during the quarter. Dimensional Fund Advisors LP owned 0.66% of Paymentus worth $21,227,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV bought a new position in shares of Paymentus during the first quarter worth about $41,000. Swiss National Bank lifted its stake in Paymentus by 22.9% in the 1st quarter. Swiss National Bank now owns 98,900 shares of the business services provider's stock valued at $2,512,000 after acquiring an additional 18,400 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Paymentus by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 43,292 shares of the business services provider's stock valued at $1,100,000 after acquiring an additional 1,468 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its position in Paymentus by 70.6% during the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider's stock worth $18,630,000 after acquiring an additional 303,554 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Paymentus during the 1st quarter worth approximately $1,040,000. 78.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PAY shares. Wolfe Research reiterated an "outperform" rating and issued a $44.00 price objective on shares of Paymentus in a report on Tuesday. Robert W. Baird increased their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Tuesday. The Goldman Sachs Group raised their target price on shares of Paymentus from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday. Wedbush lifted their price target on shares of Paymentus from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Paymentus from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.67.

Insider Buying and Selling at Paymentus

In other news, Director Gary Trainor sold 80,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the completion of the transaction, the director owned 509,888 shares of the company's stock, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 25,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00. Following the sale, the chief financial officer owned 508,506 shares of the company's stock, valued at approximately $20,955,532.26. This represents a 4.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 147,909 shares of company stock worth $5,735,337. Corporate insiders own 55.75% of the company's stock.

Paymentus Stock Performance

Shares of Paymentus stock opened at $40.08 on Friday. The firm has a 50-day moving average of $26.83 and a 200-day moving average of $26.10. Paymentus Holdings, Inc. has a 52-week low of $20.11 and a 52-week high of $45.31. The stock has a market cap of $5.04 billion, a PE ratio of 60.72 and a beta of 1.29.

Paymentus (NYSE:PAY - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $345.44 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Paymentus's revenue was up 28.8% compared to the same quarter last year. Equities research analysts predict that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

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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