Sei Investments Co. Has $10.07 Million Stock Holdings in Paymentus Holdings, Inc. $PAY

Sei Investments Co. trimmed its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 10.2% during the 1st quarter, HoldingsChannel reports. The fund owned 396,555 shares of the business services provider’s stock after selling 44,983 shares during the quarter. Sei Investments Co.’s holdings in Paymentus were worth $10,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position in shares of Paymentus by 82.2% in the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after acquiring an additional 3,859,056 shares during the period. Invesco Ltd. grew its holdings in shares of 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 purchasing an additional 2,032,819 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Paymentus during the 4th quarter worth approximately $60,452,000. Brown Brothers Harriman & Co. increased its position in shares of Paymentus by 148.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock valued at $49,931,000 after purchasing an additional 943,244 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Paymentus by 20.7% during the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock valued at $138,740,000 after purchasing an additional 753,281 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PAY. Robert W. Baird cut Paymentus from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Thursday. Wedbush boosted their price target on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Paymentus has an average rating of “Moderate Buy” and a consensus price target of $35.20.

Insider Buying and Selling

In related news, Director Gary Trainor sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $33.12, for a total value of $1,324,800.00. Following the sale, the director owned 629,888 shares of the company’s stock, valued at $20,861,890.56. The trade was a 5.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 55.75% of the stock is currently owned by corporate insiders.

Paymentus Stock Down 2.1%

Shares of PAY opened at $34.13 on Friday. The company has a 50-day moving average price of $25.52 and a two-hundred day moving average price of $25.84. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 59.88 and a beta of 1.31. Paymentus Holdings, Inc. has a 12 month low of $20.11 and a 12 month high of $39.38.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue was up 30.2% compared to the same quarter last year. Equities research analysts expect that Paymentus Holdings, Inc. will post 0.71 EPS for the current fiscal year.

Paymentus Company 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.