Lombard Odier Asset Management Europe Ltd Has $950,000 Stake in Paymentus Holdings, Inc. (NYSE:PAY)

Lombard Odier Asset Management Europe Ltd decreased its stake in Paymentus Holdings, Inc. (NYSE:PAY) by 28.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the business services provider’s stock after selling 20,000 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Paymentus were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. MCF Advisors LLC raised its position in shares of Paymentus by 80.1% during the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares during the period. Arcadia Investment Management Corp MI raised its position in Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Paymentus in the 1st quarter valued at approximately $106,000. RiverPark Advisors LLC acquired a new stake in Paymentus in the 1st quarter valued at approximately $136,000. Finally, Trexquant Investment LP acquired a new stake in Paymentus in the 4th quarter valued at approximately $254,000. Institutional investors and hedge funds own 12.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research report on Friday, August 9th. Baird R W upgraded Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group upgraded Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. raised their price target on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird raised their price target on Paymentus from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Paymentus has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Paymentus Trading Up 0.6 %

Shares of NYSE PAY opened at $22.05 on Tuesday. Paymentus Holdings, Inc. has a 12 month low of $14.17 and a 12 month high of $25.21. The stock has a 50 day moving average of $21.37 and a 200-day moving average of $20.56. The company has a market capitalization of $2.74 billion, a P/E ratio of 95.87 and a beta of 1.47.

Paymentus (NYSE:PAY) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $197.42 million during the quarter, compared to analysts’ expectations of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. Analysts predict that Paymentus Holdings, Inc. will post 0.32 EPS for the current fiscal year.

About Paymentus

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.