Dimensional Fund Advisors LP Has $21.23 Million Holdings in Paymentus Holdings, Inc. $PAY

Dimensional Fund Advisors LP grew its position in Paymentus Holdings, Inc. (NYSE:PAY) by 42.3% in the first quarter, Holdings Channel reports. The fund owned 835,799 shares of the business services provider’s stock after acquiring an additional 248,514 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Paymentus were worth $21,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAY. KBC Group NV acquired a new position in Paymentus in the 1st quarter worth about $41,000. Blue Trust Inc. boosted its stake in shares of Paymentus by 186.8% during the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paymentus during the fourth quarter valued at about $80,000. Orange County Employees Retirement System bought a new stake in shares of Paymentus during the fourth quarter worth about $150,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Paymentus by 26.0% during the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after purchasing an additional 1,042 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Paymentus Trading Up 0.2%

Shares of Paymentus stock opened at $40.08 on Friday. The business has a 50-day moving average price of $26.83 and a two-hundred day moving average price of $26.10. Paymentus Holdings, Inc. has a 1-year low of $20.11 and a 1-year high of $45.31. The company has a market cap of $5.04 billion, a P/E ratio of 60.72 and a beta of 1.29.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The company had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. During the same period in the previous year, the business earned $0.11 EPS. The firm’s revenue was up 28.8% compared to the same quarter last year. Equities research analysts forecast that Paymentus Holdings, Inc. will post 0.71 EPS for the current fiscal year.

Analysts Set New Price Targets

PAY has been the subject of several recent research reports. The Goldman Sachs Group upped their price objective on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday. Wolfe Research reissued an “outperform” rating and set a $44.00 target price on shares of Paymentus in a report on Tuesday. Robert W. Baird boosted their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush lifted their price target on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Paymentus currently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

Insider Activity at Paymentus

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total value of $3,263,200.00. Following the transaction, the director directly owned 509,888 shares of the company’s stock, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Kalra sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00. Following the transaction, the chief financial officer owned 508,506 shares in the company, valued at $20,955,532.26. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 147,909 shares of company stock worth $5,735,337. Insiders own 55.75% of the company’s stock.

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.