Ellsworth Advisors LLC Purchases New Position in Paymentus Holdings, Inc. $PAY

Ellsworth Advisors LLC acquired a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,260 shares of the business services provider’s stock, valued at approximately $664,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its stake in Paymentus by 66.9% during the 2nd quarter. Invesco Ltd. now owns 1,755,271 shares of the business services provider’s stock worth $57,485,000 after buying an additional 703,607 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of Paymentus in the second quarter valued at approximately $49,582,000. TimesSquare Capital Management LLC grew its position in shares of Paymentus by 15.7% during the second quarter. TimesSquare Capital Management LLC now owns 781,609 shares of the business services provider’s stock worth $25,598,000 after acquiring an additional 105,997 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after acquiring an additional 419,736 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Paymentus by 83.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 451,730 shares of the business services provider’s stock valued at $14,794,000 after purchasing an additional 206,130 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 22nd. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Paymentus Stock Down 0.5%

NYSE:PAY opened at $31.47 on Friday. The firm’s fifty day simple moving average is $33.16 and its 200-day simple moving average is $32.94. The stock has a market cap of $3.95 billion, a PE ratio of 68.42 and a beta of 1.48. Paymentus Holdings, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $40.43.

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.