Natixis Advisors LLC Purchases 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 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,808 shares of the business services provider's stock, valued at approximately $569,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $510,000 after buying an additional 484 shares in the last quarter. Cetera Investment Advisers boosted its position in Paymentus by 7.1% in the fourth 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 in the last quarter. Park Square Financial Group LLC acquired a new stake in Paymentus in the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $54,000 after buying an additional 1,990 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Paymentus during the fourth quarter worth $73,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

PAY has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Paymentus from $30.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Paymentus from $29.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wolfe Research upgraded shares of Paymentus from a "peer perform" rating to an "outperform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group lifted their price target on shares of Paymentus from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Robert W. Baird lifted their price target on shares of Paymentus from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Paymentus Price Performance

NYSE PAY traded up $0.18 during mid-day trading on Friday, reaching $37.46. 482,956 shares of the stock were exchanged, compared to its average volume of 764,393. Paymentus Holdings, Inc. has a one year low of $19.53 and a one year high of $40.43. The stock has a 50 day simple moving average of $31.86 and a 200-day simple moving average of $31.43. The stock has a market cap of $4.69 billion, a P/E ratio of 87.12 and a beta of 1.54.

Paymentus (NYSE:PAY - Get Free Report) last announced its earnings results on Monday, August 4th. The business services provider reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $262.78 million. During the same quarter last year, the firm earned $0.12 earnings per share. Paymentus's quarterly revenue was up 41.9% on a year-over-year basis. Sell-side analysts anticipate that Paymentus Holdings, Inc. will post 0.39 EPS for the current fiscal year.

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.