Swiss National Bank Purchases 18,400 Shares of Paymentus Holdings, Inc. $PAY

Swiss National Bank grew its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 22.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,900 shares of the business services provider’s stock after purchasing an additional 18,400 shares during the quarter. Swiss National Bank’s holdings in Paymentus were worth $2,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAY. Wasatch Advisors LP increased its stake in shares of Paymentus by 82.2% in the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock valued at $270,194,000 after buying an additional 3,859,056 shares during the period. Capital International Investors raised its holdings in Paymentus by 6.6% in the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock valued at $241,835,000 after buying an additional 474,780 shares during the last quarter. Vanguard Group Inc. boosted its position in Paymentus by 20.7% during the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after buying an additional 753,281 shares during the period. Invesco Ltd. boosted its position in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after buying an additional 2,032,819 shares during the period. Finally, Capital World Investors grew its holdings in Paymentus by 4.4% during the 4th quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock worth $78,962,000 after acquiring an additional 105,970 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAY. Wedbush upped their price target on shares of 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 cut shares of Paymentus from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Thursday. Finally, Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Paymentus Price Performance

Shares of PAY stock opened at $34.90 on Friday. The business’s 50 day simple moving average is $25.30 and its 200 day simple moving average is $25.78. Paymentus Holdings, Inc. has a one year low of $20.11 and a one year high of $39.38. The stock has a market capitalization of $4.39 billion, a PE ratio of 61.22 and a beta of 1.31.

Paymentus (NYSE:PAY) last released its earnings results 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 during the quarter, compared to the consensus estimate of $335.45 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. As a group, research analysts expect that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current year.

Insider Activity at Paymentus

In other news, Director Gary Trainor sold 40,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $33.12, for a total transaction of $1,324,800.00. Following the completion of the sale, the director directly owned 629,888 shares in the company, valued at $20,861,890.56. This represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 55.75% of the company’s stock.

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.