Oppenheimer Asset Management Inc. Purchases 55,005 Shares of Paymentus Holdings, Inc. $PAY

Key Points

• Oppenheimer Asset Management boosted its stake in Paymentus by 139.1% in Q4, buying 55,005 shares to hold 94,536 shares (about 0.08% of the company) worth roughly $2.99 million.
• Institutional investors own about 78.38% of Paymentus, and several other funds made modest increases to their positions during recent quarters.
• Analysts give Paymentus a consensus rating of "Moderate Buy" with a target of $35.50; the stock trades near $27.76 with a 52‑week range of $22.02–$40.43 and a P/E of about 53.4 (market cap ~$3.49B).

Oppenheimer Asset Management Inc. lifted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 139.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,536 shares of the business services provider's stock after purchasing an additional 55,005 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Paymentus worth $2,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. boosted its position in shares of Paymentus by 0.7% during the second quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider's stock valued at $1,834,000 after purchasing an additional 413 shares in the last quarter. GSA Capital Partners LLP raised its stake in Paymentus by 1.6% during the third quarter. GSA Capital Partners LLP now owns 40,554 shares of the business services provider's stock valued at $1,241,000 after buying an additional 632 shares during the last quarter. Hamilton Lane Advisors LLC raised its stake in Paymentus by 7.8% during the fourth quarter. Hamilton Lane Advisors LLC now owns 9,303 shares of the business services provider's stock valued at $294,000 after buying an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Paymentus by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider's stock valued at $425,000 after buying an additional 683 shares during the last quarter. Finally, Palisades Investment Partners LLC raised its stake in Paymentus by 0.5% during the third quarter. Palisades Investment Partners LLC now owns 195,998 shares of the business services provider's stock valued at $5,998,000 after buying an additional 962 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Price Performance

PAY stock opened at $27.76 on Monday. Paymentus Holdings, Inc. has a 1-year low of $22.02 and a 1-year high of $40.43. The business has a fifty day moving average price of $25.75 and a 200-day moving average price of $28.99. The stock has a market capitalization of $3.49 billion, a P/E ratio of 53.38 and a beta of 1.40.

Analysts Set New Price Targets

PAY has been the subject of a number of recent research reports. Raymond James Financial reiterated a "strong-buy" rating and set a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. Wedbush lowered their price objective on Paymentus from $40.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Wall Street Zen upgraded Paymentus from a "hold" rating to a "buy" rating in a research note on Sunday, February 8th. Finally, The Goldman Sachs Group lowered their price objective on Paymentus from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Paymentus currently has an average rating of "Moderate Buy" and a consensus target price of $35.50.

Paymentus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.