26,506 Shares of Paymentus Holdings, Inc. $PAY Purchased by Orange County Employees Retirement System

Orange County Employees Retirement System purchased a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,506 shares of the business services provider’s stock, valued at approximately $812,000. Paymentus accounts for approximately 0.3% of Orange County Employees Retirement System’s investment portfolio, making the stock its 3rd largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC purchased a new position in shares of Paymentus during the 3rd quarter valued at about $229,000. Signaturefd LLC grew its stake in shares of Paymentus by 50.8% during the 3rd quarter. Signaturefd LLC now owns 1,624 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 547 shares during the period. Nisa Investment Advisors LLC increased its holdings in Paymentus by 71.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,435 shares of the business services provider’s stock worth $44,000 after acquiring an additional 600 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Paymentus in the 3rd quarter worth approximately $721,000. Finally, State of Alaska Department of Revenue bought a new stake in Paymentus during the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Stock Down 0.1%

Shares of Paymentus stock opened at $33.46 on Friday. The stock’s 50-day simple moving average is $33.21 and its 200-day simple moving average is $28.89. Paymentus Holdings, Inc. has a 52 week low of $20.11 and a 52 week high of $45.31. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 45.83 and a beta of 1.35.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Monday, November 2nd. The business services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Paymentus had a return on equity of 16.14% and a net margin of 6.65%. The firm had revenue of $372.18 million during the quarter, compared to analyst estimates of $358.87 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts expect that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current year.

Analysts Set New Price Targets

PAY has been the topic of several analyst reports. Weiss Ratings downgraded shares of Paymentus from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Robert W. Baird upped their price target on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group increased their price objective on shares of Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Yorkville Ives began coverage on shares of Paymentus in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Seaport Research Partners started coverage on shares of Paymentus in a research report on Thursday, September 17th. They set a “buy” rating and a $42.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.86.

About Paymentus

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.