RiverPark Advisors LLC Takes $136,000 Position in Paymentus Holdings, Inc. (NYSE:PAY)

RiverPark Advisors LLC acquired a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,967 shares of the business services provider’s stock, valued at approximately $136,000.

Several other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Paymentus during the fourth quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Paymentus by 15.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,441 shares of the business services provider’s stock valued at $579,000 after purchasing an additional 3,341 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Paymentus by 2,948.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 4,629 shares during the period. Trexquant Investment LP acquired a new position in shares of Paymentus during the fourth quarter valued at about $254,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Paymentus in the 4th quarter worth about $283,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAY. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a research report on Monday. Robert W. Baird raised their price objective on shares of Paymentus from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Raymond James cut shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. The Goldman Sachs Group increased their target price on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Citigroup raised their price objective on shares of Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Paymentus has an average rating of “Hold” and a consensus target price of $19.06.

Paymentus Stock Performance

Shares of PAY traded down $0.64 during mid-day trading on Tuesday, hitting $18.48. 180,067 shares of the company traded hands, compared to its average volume of 274,798. The stock has a 50-day moving average price of $19.12 and a two-hundred day moving average price of $18.81. Paymentus Holdings, Inc. has a 1 year low of $9.86 and a 1 year high of $25.21. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 80.35 and a beta of 1.46.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, May 6th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $184.88 million during the quarter, compared to analyst estimates of $174.75 million. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. On average, analysts forecast that Paymentus Holdings, Inc. will post 0.29 EPS for the current year.

Insider Activity at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 1,575 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the transaction, the general counsel now directly owns 142,112 shares in the company, valued at $2,673,126.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.85, for a total value of $105,107.60. Following the transaction, the general counsel now owns 136,536 shares of the company’s stock, valued at $2,573,703.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew A. Gerber sold 1,575 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.81, for a total transaction of $29,625.75. Following the completion of the transaction, the general counsel now directly owns 142,112 shares in the company, valued at approximately $2,673,126.72. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by company insiders.

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.