Orange County Employees Retirement System Acquires 26,506 Shares of Paymentus Holdings, Inc. $PAY

Orange County Employees Retirement System acquired a new position in Paymentus Holdings, Inc. (NYSE:PAY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 26,506 shares of the business services provider’s stock, valued at approximately $812,000. Paymentus makes up approximately 0.3% of Orange County Employees Retirement System’s holdings, making the stock its 3rd biggest position.

Several other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Paymentus by 42.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider’s stock valued at $21,227,000 after acquiring an additional 248,514 shares during the period. North Reef Capital Management LP bought a new stake in shares of Paymentus in the first quarter worth approximately $18,658,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its holdings in shares of Paymentus by 70.6% during the first quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider’s stock valued at $18,630,000 after purchasing an additional 303,554 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Paymentus by 155.1% during the first quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock valued at $8,890,000 after purchasing an additional 212,778 shares during the last quarter. Finally, Castleark Management LLC bought a new position in Paymentus during the first quarter valued at approximately $6,878,000. 78.38% of the stock is currently owned by institutional investors.

Paymentus Stock Down 0.1%

NYSE PAY opened at $33.46 on Friday. Paymentus Holdings, Inc. has a 52 week low of $20.11 and a 52 week high of $45.31. The firm has a market capitalization of $4.21 billion, a P/E ratio of 45.83 and a beta of 1.35. The company has a 50-day moving average price of $33.21 and a 200-day moving average price of $28.89.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, November 2nd. The business services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $372.18 million for the quarter, compared to analysts’ expectations of $358.87 million. Paymentus had a net margin of 6.65% and a return on equity of 16.14%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. As a group, equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.77 EPS for the current year.

Wall Street Analyst Weigh In

PAY has been the topic of several research reports. Seaport Research Partners assumed coverage on shares of Paymentus in a report on Thursday, September 17th. They issued a “buy” rating and a $42.00 target price on the stock. Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. 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. Freedom Broker raised Paymentus to a “strong-buy” rating in a report on Tuesday, September 15th. Finally, Weiss Ratings downgraded Paymentus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Paymentus currently has an average rating of “Moderate Buy” and an average target price of $38.86.

About Paymentus

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.