Informed Momentum Co LLC Has $2.54 Million Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Key Points

• Informed Momentum Co LLC decreased its stake in Paymentus Holdings by 22.0%, now holding approximately 0.08% of the company, valued at $2.536 million.
• Other institutional investors like Independent Advisor Alliance and Invesco Ltd. increased their positions in Paymentus by 51.1% and 81.5%, respectively, during the same quarter.
• Paymentus reported a 41.9% year-over-year increase in revenue, achieving $280.08 million for the quarter and beating earnings per share estimates.

Informed Momentum Co LLC decreased its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 22.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 97,155 shares of the business services provider's stock after selling 27,408 shares during the period. Informed Momentum Co LLC owned approximately 0.08% of Paymentus worth $2,536,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Paymentus by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider's stock valued at $510,000 after buying an additional 484 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Paymentus by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider's stock valued at $214,000 after buying an additional 823 shares during the period. Cetera Investment Advisers grew its holdings in shares of Paymentus by 7.1% in the 4th quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock valued at $434,000 after buying an additional 883 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Paymentus in the 4th quarter valued at $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 period. Institutional investors own 78.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Wolfe Research raised shares of Paymentus from a "peer perform" rating to an "outperform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Robert W. Baird upped 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. Finally, The Goldman Sachs Group upped their target price on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Paymentus currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Paymentus Stock Up 0.5%

Shares of PAY stock traded up $0.18 on Friday, reaching $37.46. The stock had a trading volume of 482,956 shares, compared to its average volume of 764,393. The firm's 50-day moving average is $31.86 and its two-hundred day moving average is $31.43. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 87.12 and a beta of 1.54. Paymentus Holdings, Inc. has a 12 month low of $19.53 and a 12 month high of $40.43.

Paymentus (NYSE:PAY - Get Free Report) last issued its earnings results on Monday, August 4th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. The company had revenue of $280.08 million for the quarter, compared to analysts' expectations of $262.78 million. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. Paymentus's quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. On average, sell-side analysts forecast 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.