Vanguard Group Inc. Buys 551,211 Shares of Paymentus Holdings, Inc. $PAY

Vanguard Group Inc. grew its position in Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 30.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,347,870 shares of the business services provider's stock after purchasing an additional 551,211 shares during the period. Vanguard Group Inc. owned approximately 1.88% of Paymentus worth $61,279,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Paymentus in the fourth quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. grew its stake 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 purchasing an additional 1,990 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Paymentus during the 4th quarter worth approximately $73,000. Bessemer Group Inc. bought a new stake in shares of Paymentus during the 1st quarter worth approximately $108,000. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Paymentus in the 4th quarter valued at approximately $144,000. Institutional investors own 78.38% of the company's stock.

Analyst Ratings Changes

PAY has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $40.00 price target on Paymentus and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Raymond James Financial set a $38.00 price objective on Paymentus and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded Paymentus from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Wells Fargo & Company raised their price target 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 analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Paymentus Stock Up 1.3%

Shares of PAY stock traded up $0.48 during mid-day trading on Tuesday, reaching $38.28. 685,853 shares of the company's stock traded hands, compared to its average volume of 869,092. The company's 50-day moving average price is $32.31 and its 200-day moving average price is $31.70. Paymentus Holdings, Inc. has a 12 month low of $19.53 and a 12 month high of $40.43. The company has a market cap of $4.80 billion, a P/E ratio of 89.03 and a beta of 1.54.

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

Paymentus 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.