Paymentus Holdings, Inc. $PAY Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 736,827 shares of the business services provider’s stock after selling 37,766 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Paymentus were worth $23,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in shares of Paymentus during the 3rd quarter valued at approximately $33,000. Blue Trust Inc. raised its position in shares of Paymentus by 186.8% during the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,319 shares in the last quarter. Vident Advisory LLC acquired a new stake in shares of Paymentus during the 2nd quarter valued at approximately $204,000. Bayesian Capital Management LP acquired a new stake in Paymentus in the second quarter worth $226,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paymentus by 23.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,042 shares of the business services provider’s stock worth $286,000 after buying an additional 1,734 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Performance

Shares of PAY opened at $24.11 on Wednesday. Paymentus Holdings, Inc. has a one year low of $22.02 and a one year high of $40.02. The stock’s fifty day moving average is $25.91 and its 200-day moving average is $28.65. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 42.31 and a beta of 1.40.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The business had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s revenue was up 30.2% on a year-over-year basis. Analysts forecast that Paymentus Holdings, Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird increased their target price on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research report on Friday, March 6th. Wedbush increased their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group dropped their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.20.

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.