5,967 Shares in Paymentus Holdings, Inc. (NYSE:PAY) Bought by RiverPark Advisors LLC

RiverPark Advisors LLC purchased a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 5,967 shares of the business services provider’s stock, valued at approximately $136,000.

Several other hedge funds have also recently modified their holdings of the stock. Deutsche Bank AG acquired a new stake in Paymentus in the third quarter valued at $11,806,000. Vanguard Group Inc. lifted its holdings in Paymentus by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,345,935 shares of the business services provider’s stock valued at $22,343,000 after acquiring an additional 29,882 shares during the period. Ridgewood Investments LLC acquired a new stake in Paymentus in the fourth quarter valued at $465,000. Wakefield Asset Management LLLP acquired a new stake in Paymentus in the fourth quarter valued at $875,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Paymentus by 2,948.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 4,629 shares during the period. 12.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Paymentus Price Performance

Paymentus stock traded down $0.64 during midday trading on Tuesday, hitting $18.48. 180,067 shares of the company were exchanged, compared to its average volume of 274,798. The company’s fifty day moving average price is $19.12 and its 200-day moving average price is $18.81. The company has a market cap of $2.29 billion, a PE ratio of 80.35 and a beta of 1.46. Paymentus Holdings, Inc. has a fifty-two week low of $9.86 and a fifty-two week high of $25.21.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday. Citigroup lifted their price objective on Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their price objective on Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group lifted their price target on Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Monday, April 15th. Finally, Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Paymentus presently has a consensus rating of “Hold” and an average price target of $19.06.

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.