Kornitzer Capital Management Inc. KS Makes New Investment in Paymentus Holdings, Inc. $PAY

Kornitzer Capital Management Inc. KS purchased a new stake in Paymentus Holdings, Inc. (NYSE:PAY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 145,790 shares of the business services provider’s stock, valued at approximately $4,461,000. Kornitzer Capital Management Inc. KS owned 0.12% of Paymentus as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Paymentus by 26.8% during the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after purchasing an additional 38,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 valued at $425,000 after acquiring an additional 683 shares during the last quarter. Millennium Management LLC raised its position in shares of Paymentus by 4.2% during the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after acquiring an additional 9,890 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Paymentus by 275.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after acquiring an additional 419,736 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Paymentus during the second quarter worth approximately $2,260,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PAY shares. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. raised their price objective on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.50.

Paymentus Stock Down 0.5%

Shares of NYSE PAY opened at $29.40 on Wednesday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 63.92 and a beta of 1.49. Paymentus Holdings, Inc. has a 52 week low of $22.65 and a 52 week high of $40.43. The firm has a 50-day moving average price of $31.66 and a 200 day moving average price of $32.58.

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.