Castleark Management LLC Acquires New Holdings in Paymentus Holdings, Inc. $PAY

Castleark Management LLC bought a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 270,770 shares of the business services provider’s stock, valued at approximately $6,878,000. Castleark Management LLC owned about 0.22% of Paymentus at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. B. Metzler seel. Sohn & Co. AG lifted its stake in Paymentus by 140.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 78,328 shares of the business services provider’s stock valued at $2,474,000 after buying an additional 45,687 shares in the last quarter. Comerica Bank increased its position in Paymentus by 11,320.8% during the fourth quarter. Comerica Bank now owns 40,544 shares of the business services provider’s stock worth $1,281,000 after buying an additional 40,189 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Paymentus by 139.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 94,536 shares of the business services provider’s stock worth $2,986,000 after buying an additional 55,005 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in Paymentus during the fourth quarter worth $1,037,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its holdings in shares of Paymentus by 104.7% in the fourth 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 acquiring an additional 219,892 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PAY shares. Wedbush upped their price objective on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Robert W. Baird boosted their target price on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.20.

Paymentus Stock Performance

PAY stock opened at $28.79 on Monday. The stock has a market capitalization of $3.62 billion, a P/E ratio of 50.52 and a beta of 1.31. Paymentus Holdings, Inc. has a one year low of $20.11 and a one year high of $39.38. The company has a 50 day moving average price of $24.49 and a two-hundred day moving average price of $25.67.

Paymentus (NYSE:PAY) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. During the same period in the previous year, the firm posted $0.14 EPS. Paymentus’s revenue was up 30.2% on a year-over-year basis. Research analysts forecast that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

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.