Calamos Advisors LLC Purchases 42,859 Shares of Paymentus Holdings, Inc. $PAY

Calamos Advisors LLC grew its position in Paymentus Holdings, Inc. (NYSE:PAY) by 234.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,170 shares of the business services provider’s stock after acquiring an additional 42,859 shares during the period. Calamos Advisors LLC’s holdings in Paymentus were worth $2,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Driehaus Capital Management LLC raised its position in Paymentus by 152.3% in the 1st quarter. Driehaus Capital Management LLC now owns 1,897,552 shares of the business services provider’s stock valued at $49,526,000 after purchasing an additional 1,145,557 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Paymentus by 30.7% in the first quarter. Vanguard Group Inc. now owns 2,347,870 shares of the business services provider’s stock valued at $61,279,000 after buying an additional 551,211 shares in the last quarter. Invesco Ltd. increased its stake in shares of Paymentus by 81.5% in the first quarter. Invesco Ltd. now owns 1,051,664 shares of the business services provider’s stock valued at $27,448,000 after buying an additional 472,205 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after buying an additional 419,736 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Paymentus by 9,777.0% in the first quarter. Deutsche Bank AG now owns 221,639 shares of the business services provider’s stock valued at $5,785,000 after buying an additional 219,395 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAY has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Raymond James Financial set a $38.00 price target on shares of Paymentus and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Paymentus in a report on Wednesday, October 8th. Finally, Wolfe Research upgraded shares of Paymentus from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Paymentus currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Paymentus Price Performance

Shares of NYSE:PAY opened at $37.47 on Friday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 81.45 and a beta of 1.50. The company has a 50 day moving average of $32.48 and a 200-day moving average of $33.70. Paymentus Holdings, Inc. has a one year low of $22.65 and a one year high of $40.43.

Paymentus Company 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.