Renaissance Technologies LLC Has $1.30 Million Stock Holdings in Paymentus Holdings, Inc. (NYSE:PAY)

Renaissance Technologies LLC trimmed its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 52.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,600 shares of the business services provider’s stock after selling 77,200 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of Paymentus worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC lifted its position in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Paymentus by 0.6% during the first quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock worth $4,699,000 after acquiring an additional 1,141 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in Paymentus by 141.1% during the second 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. Mirae Asset Global Investments Co. Ltd. grew its stake in Paymentus by 15.1% in 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 in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Paymentus in the 1st quarter worth about $106,000. 12.55% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Up 4.9 %

PAY opened at $20.80 on Friday. The business has a 50 day moving average of $21.41 and a 200-day moving average of $20.46. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 90.43 and a beta of 1.46. Paymentus Holdings, Inc. has a 1-year low of $14.17 and a 1-year high of $25.21.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PAY shares. The Goldman Sachs Group lifted their price target on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. Robert W. Baird lifted their price objective on shares of Paymentus from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Baird R W upgraded Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.19.

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.