Hussman Strategic Advisors Inc. Buys 31,500 Shares of Paymentus Holdings, Inc. $PAY

Hussman Strategic Advisors Inc. raised its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 75.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,500 shares of the business services provider’s stock after purchasing an additional 31,500 shares during the period. Hussman Strategic Advisors Inc. owned 0.06% of Paymentus worth $2,249,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Cliffwater LLC bought a new stake in Paymentus in the 2nd quarter valued at about $124,000. Advisors Asset Management Inc. increased its holdings in shares of Paymentus by 11.7% during the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 403 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Paymentus by 35.7% during the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 1,500 shares in the last quarter. Vident Advisory LLC acquired a new position in shares of Paymentus during the second quarter worth approximately $204,000. Finally, Bayesian Capital Management LP bought a new position in shares of Paymentus in the 2nd quarter worth $226,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAY has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Paymentus Stock Performance

Paymentus stock opened at $29.40 on Wednesday. Paymentus Holdings, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $40.43. The firm’s 50-day simple moving average is $31.66 and its 200 day simple moving average is $32.58. The stock has a market cap of $3.69 billion, a PE ratio of 63.92 and a beta of 1.49.

Paymentus Company 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.