Lord Abbett & CO. LLC Purchases 44,264 Shares of Paymentus Holdings, Inc. $PAY

Key Points

• Lord Abbett & CO. LLC increased its shareholding in Paymentus Holdings by 7.7%, acquiring 44,264 additional shares to own 619,820 shares, valued at approximately $16.2 million.
• Paymentus experienced a notable revenue increase of 41.9% year-over-year, reporting $280.08 million for the most recent quarter, surpassing analysts' estimates.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Paymentus, with target prices ranging from $34.00 to $40.00.

Lord Abbett & CO. LLC boosted its holdings in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 619,820 shares of the business services provider's stock after buying an additional 44,264 shares during the period. Lord Abbett & CO. LLC owned approximately 0.50% of Paymentus worth $16,177,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Paymentus by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider's stock worth $510,000 after purchasing an additional 484 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Paymentus by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider's stock worth $214,000 after purchasing an additional 823 shares during the period. Cetera Investment Advisers raised its holdings in Paymentus by 7.1% in the fourth quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider's stock worth $434,000 after purchasing an additional 883 shares during the period. Park Square Financial Group LLC acquired a new stake in Paymentus in the fourth quarter worth $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Paymentus by 2,763.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock worth $54,000 after purchasing an additional 1,990 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Trading Down 1.1%

PAY stock traded down $0.3950 during mid-day trading on Thursday, hitting $36.8250. The stock had a trading volume of 224,759 shares, compared to its average volume of 565,000. Paymentus Holdings, Inc. has a 52 week low of $19.53 and a 52 week high of $40.43. The firm has a market capitalization of $4.61 billion, a P/E ratio of 85.60 and a beta of 1.54. The firm has a fifty day simple moving average of $31.95 and a 200 day simple moving average of $31.55.

Paymentus (NYSE:PAY - Get Free Report) last released its earnings results on Monday, August 4th. The business services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $280.08 million for the quarter, compared to analyst estimates of $262.78 million. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. The business's quarterly revenue was up 41.9% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. Paymentus has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts expect that Paymentus Holdings, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PAY has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $40.00 price objective on shares of Paymentus and gave the company an "outperform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted 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. Wolfe Research raised shares of Paymentus from a "peer perform" rating to an "outperform" rating in a research report on Tuesday, July 22nd. Finally, 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, August 5th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Paymentus presently has an average rating of "Moderate Buy" and an average 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.