Capital International Investors Boosts Stock Holdings in Paymentus Holdings, Inc. $PAY

Capital International Investors raised its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 17.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,180,653 shares of the business services provider’s stock after purchasing an additional 1,072,387 shares during the period. Capital International Investors owned 5.73% of Paymentus worth $219,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Paymentus by 26.8% during the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock valued at $4,780,000 after buying an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after acquiring an additional 683 shares during the last quarter. Millennium Management LLC raised its stake in Paymentus by 4.2% in the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock valued at $6,365,000 after acquiring an additional 9,890 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Paymentus by 275.8% during 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 purchasing an additional 419,736 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Paymentus during the second quarter valued at about $545,000. 78.38% of the stock is currently owned by institutional investors.

Paymentus Trading Down 1.9%

Paymentus stock opened at $25.53 on Thursday. Paymentus Holdings, Inc. has a 1-year low of $22.02 and a 1-year high of $40.43. The firm has a market capitalization of $3.21 billion, a PE ratio of 49.10 and a beta of 1.50. The firm’s 50 day simple moving average is $26.82 and its 200 day simple moving average is $31.03.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PAY shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. The Goldman Sachs Group reduced their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Finally, Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Paymentus currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

About Paymentus

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.