AQR Capital Management LLC Takes $233,000 Position in Paymentus Holdings, Inc. (NYSE:PAY)

AQR Capital Management LLC purchased a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,248 shares of the business services provider’s stock, valued at approximately $233,000.

A number of other hedge funds have also added to or reduced their stakes in PAY. MCF Advisors LLC grew its position in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of Paymentus by 141.1% during 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 purchasing an additional 1,381 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Paymentus during the 1st quarter worth approximately $106,000. RiverPark Advisors LLC bought a new position in Paymentus in the 1st quarter valued at approximately $136,000. Finally, XTX Topco Ltd acquired a new stake in Paymentus in the second quarter valued at approximately $339,000. 12.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PAY shares. The Goldman Sachs Group increased their price target on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird lifted their price target on Paymentus from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Finally, Baird R W upgraded shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.31.

Paymentus Price Performance

Shares of PAY stock opened at $26.30 on Friday. The stock has a market capitalization of $3.27 billion, a PE ratio of 114.35 and a beta of 1.46. The business’s 50 day simple moving average is $21.93 and its 200 day simple moving average is $20.43. Paymentus Holdings, Inc. has a one year low of $14.17 and a one year high of $26.50.

Paymentus (NYSE:PAY) last released its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Paymentus had a net margin of 4.63% and a return on equity of 9.33%. The business had revenue of $197.42 million for the quarter, compared to analyst estimates of $180.57 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. Paymentus’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts expect that Paymentus Holdings, Inc. will post 0.32 earnings per share for the current year.

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.