Atria Wealth Solutions Inc. Takes $279,000 Position in Paymentus Holdings, Inc. (NYSE:PAY)

Atria Wealth Solutions Inc. acquired a new stake in Paymentus Holdings, Inc. (NYSE:PAY) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,689 shares of the business services provider’s stock, valued at approximately $279,000.

A number of other institutional investors also recently modified their holdings of PAY. Capital International Investors boosted its stake in shares of Paymentus by 25.6% in the 4th quarter. Capital International Investors now owns 4,362,065 shares of the business services provider’s stock valued at $142,509,000 after purchasing an additional 888,914 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Paymentus in the 4th quarter valued at $24,568,000. TimesSquare Capital Management LLC boosted its stake in shares of Paymentus by 63,516.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 675,612 shares of the business services provider’s stock valued at $17,633,000 after purchasing an additional 674,550 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Paymentus by 246.2% in the 4th quarter. Invesco Ltd. now owns 579,459 shares of the business services provider’s stock valued at $18,931,000 after purchasing an additional 412,095 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Paymentus in the 4th quarter valued at $12,064,000. 78.38% of the stock is owned by institutional investors.

Paymentus Trading Up 0.5%

PAY opened at $37.46 on Friday. The company’s fifty day moving average price is $31.86 and its two-hundred day moving average price is $31.44. Paymentus Holdings, Inc. has a 1-year low of $19.53 and a 1-year high of $40.43. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 87.12 and a beta of 1.54.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Monday, August 4th. The business services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. The firm had revenue of $280.08 million for the quarter, compared to the consensus estimate of $262.78 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The business’s revenue was up 41.9% on a year-over-year basis. As a group, equities analysts forecast that Paymentus Holdings, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PAY has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Paymentus from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Paymentus from $29.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Wolfe Research raised shares of Paymentus from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, July 22nd. Robert W. Baird increased their target price on shares of Paymentus from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company increased their target price on shares of Paymentus from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Paymentus presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Paymentus Company 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.