Paymentus Holdings, Inc. $PAY Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 4.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 736,827 shares of the business services provider’s stock after selling 37,766 shares during the quarter. TimesSquare Capital Management LLC owned 0.59% of Paymentus worth $23,276,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its position in Paymentus by 104.7% during the 4th quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 429,916 shares of the business services provider’s stock worth $13,581,000 after purchasing an additional 219,892 shares in the last quarter. Independent Advisor Alliance increased its position in Paymentus by 12.3% during the 4th quarter. Independent Advisor Alliance now owns 22,311 shares of the business services provider’s stock worth $705,000 after purchasing an additional 2,449 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paymentus by 23.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,042 shares of the business services provider’s stock worth $286,000 after purchasing an additional 1,734 shares in the last quarter. LVZ Inc. increased its position in Paymentus by 13.2% during the 4th quarter. LVZ Inc. now owns 13,047 shares of the business services provider’s stock worth $412,000 after purchasing an additional 1,526 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in Paymentus by 12.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 164,510 shares of the business services provider’s stock worth $5,197,000 after acquiring an additional 18,720 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Trading Down 1.3%

Paymentus stock opened at $24.11 on Wednesday. The stock has a market cap of $3.03 billion, a P/E ratio of 42.31 and a beta of 1.40. The stock has a 50 day moving average of $25.91 and a 200-day moving average of $28.65. Paymentus Holdings, Inc. has a 52 week low of $22.02 and a 52 week high of $40.02.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The business’s revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. As a group, equities analysts predict that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on PAY. Wedbush upped their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Raymond James Financial restated a “strong-buy” rating and issued a $36.00 price target on shares of Paymentus in a report on Friday, March 6th. Robert W. Baird upped their price target on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group reduced their target price 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 research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.20.

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.