Squarepoint Ops LLC Sells 43,622 Shares of Paymentus Holdings, Inc. $PAY

Key Points

• Squarepoint Ops LLC cut its Paymentus stake by 81.8% in the second quarter, selling 43,622 shares and retaining 9,680 shares worth approximately $234,000. Institutional investors collectively own 78.38% of PAY.
• Paymentus insiders sold 147,909 shares valued at about $5.74 million over the past three months, including substantial sales by Director Gary Trainor and CFO Sanjay Kalra.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $38.67 target price. Paymentus recently exceeded quarterly earnings and revenue estimates, reporting $0.25 EPS and $360.74 million in revenue, up 28.8% year over year.

Squarepoint Ops LLC lessened its stake in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 81.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,680 shares of the business services provider's stock after selling 43,622 shares during the period. Squarepoint Ops LLC's holdings in Paymentus were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PAY. Capital International Investors raised its stake in shares of Paymentus by 6.6% in the fourth quarter. Capital International Investors now owns 7,655,433 shares of the business services provider's stock valued at $241,835,000 after acquiring an additional 474,780 shares during the period. Capital World Investors grew its holdings in Paymentus by 4.4% during the 4th quarter. Capital World Investors now owns 2,499,583 shares of the business services provider's stock valued at $78,962,000 after purchasing an additional 105,970 shares during the last quarter. Next Century Growth Investors LLC grew its holdings in Paymentus by 1.3% during the 4th quarter. Next Century Growth Investors LLC now owns 1,181,624 shares of the business services provider's stock valued at $37,328,000 after purchasing an additional 14,786 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Paymentus by 42.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider's stock worth $21,227,000 after purchasing an additional 248,514 shares during the period. Finally, North Reef Capital Management LP purchased a new stake in Paymentus in the 1st quarter worth about $18,658,000. 78.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gary Trainor sold 80,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total value of $3,263,200.00. Following the completion of the transaction, the director directly owned 509,888 shares of the company's stock, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sanjay Kalra sold 25,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00. Following the sale, the chief financial officer owned 508,506 shares of the company's stock, valued at $20,955,532.26. This trade represents a 4.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 147,909 shares of company stock valued at $5,735,337 in the last three months. 55.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wolfe Research lowered Paymentus from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 25th. Freedom Broker raised Paymentus to a "strong-buy" rating in a research report on Tuesday, September 15th. Weiss Ratings upgraded Paymentus from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 3rd. Robert W. Baird boosted their target price on shares of Paymentus from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Finally, Seaport Research Partners began coverage on shares of Paymentus in a research note on Thursday, September 17th. They issued a "buy" rating and a $42.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.67.

Paymentus Trading Down 7.3%

Shares of PAY stock opened at $29.95 on Thursday. Paymentus Holdings, Inc. has a twelve month low of $20.11 and a twelve month high of $45.31. The stock has a fifty day simple moving average of $36.05 and a two-hundred day simple moving average of $28.83. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 45.37 and a beta of 1.31.

Paymentus (NYSE:PAY - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The firm had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. During the same quarter last year, the firm posted $0.11 earnings per share. The business's revenue for the quarter was up 28.8% on a year-over-year basis. Research analysts predict that Paymentus Holdings, Inc. will post 0.75 EPS for the current fiscal year.

About Paymentus

Paymentus Holdings, Inc NYSE: PAY provides cloud-based electronic bill presentment and payment technology. Its platform enables organizations to issue bills and invoices, accept digital payments, and manage payment-related communications through web, mobile, text, interactive voice response, and other channels.

The company serves billers across industries including utilities, government, financial services, telecommunications, insurance, and other recurring-payment businesses. Its offerings are designed to support payment processing, billing and account management, customer engagement, automated notifications, and related back-office workflows through a unified software platform.

Paymentus was founded in 2004 and primarily serves organizations in the United States and Canada.

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