Paymentus Holdings, Inc. (NYSE:PAY) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its position in Paymentus Holdings, Inc. (NYSE:PAY) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,781 shares of the business services provider’s stock after buying an additional 3,124 shares during the quarter. Millennium Management LLC owned 0.23% of Paymentus worth $5,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Paymentus in the second quarter valued at $233,000. Cubist Systematic Strategies LLC grew its stake in shares of Paymentus by 8.5% in the second quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after buying an additional 10,729 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Paymentus in the second quarter valued at $339,000. Dimensional Fund Advisors LP grew its stake in Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after purchasing an additional 20,767 shares in the last quarter. Finally, Arcadia Investment Management Corp MI grew its stake in Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares in the last quarter. 12.55% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Up 7.6 %

PAY opened at $22.76 on Friday. The business has a 50 day moving average price of $21.47 and a two-hundred day moving average price of $20.38. The company has a market cap of $2.83 billion, a PE ratio of 91.04 and a beta of 1.46. Paymentus Holdings, Inc. has a 52 week low of $14.17 and a 52 week high of $25.21.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $197.42 million during the quarter, compared to the consensus estimate of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The firm’s revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. As a group, sell-side analysts expect that Paymentus Holdings, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group boosted their target price on Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Robert W. Baird lifted their price target on Paymentus from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Paymentus has a consensus rating of “Moderate Buy” and an average target price of $20.19.

Paymentus Profile

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.