Natixis Advisors LLC Buys Shares of 21,808 Paymentus Holdings, Inc. (NYSE:PAY)

Key Points

• Natixis Advisors LLC purchased 21,808 shares of Paymentus Holdings, Inc. (NYSE: PAY), valued at approximately $569,000, during the first quarter.
• Paymentus reported a quarterly earnings per share (EPS) of $0.15, beating estimates of $0.14, with a revenue of $280.08 million, marking a year-over-year increase of 41.9%.
• Equities analysts have upgraded Paymentus with an average rating of "Moderate Buy" and a consensus price target of $37.00.

Natixis Advisors LLC bought a new stake in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,808 shares of the business services provider's stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAY. Capital International Investors grew its stake in shares of Paymentus by 25.6% in the fourth 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 in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Paymentus in the fourth quarter worth $24,568,000. TimesSquare Capital Management LLC grew its stake in shares of Paymentus by 63,516.9% during the first quarter. TimesSquare Capital Management LLC now owns 675,612 shares of the business services provider's stock worth $17,633,000 after purchasing an additional 674,550 shares in the last quarter. Invesco Ltd. grew its stake in shares of Paymentus by 246.2% during the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after purchasing an additional 412,095 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Paymentus during the fourth quarter worth $12,064,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Paymentus Stock Performance

Shares of NYSE PAY opened at $34.18 on Tuesday. Paymentus Holdings, Inc. has a 1 year low of $19.53 and a 1 year high of $40.43. The firm's 50 day moving average price is $31.89 and its 200 day moving average price is $31.27. The firm has a market cap of $4.28 billion, a P/E ratio of 79.48 and a beta of 1.54.

Paymentus (NYSE:PAY - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The business services provider reported $0.15 earnings per share 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 analyst estimates of $262.78 million. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. Paymentus's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter last year, the business earned $0.12 EPS. As a group, equities analysts predict that Paymentus Holdings, Inc. will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on PAY shares. Wall Street Zen upgraded shares of Paymentus from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Wolfe Research upgraded shares of Paymentus from a "peer perform" rating to an "outperform" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group upped their price objective on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company upped their price objective on shares of Paymentus from $30.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Paymentus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.