nVerses Capital LLC Acquires 1,100 Shares of Paymentus Holdings, Inc. (NYSE:PAY)

nVerses Capital LLC boosted its holdings in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 550.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,300 shares of the business services provider’s stock after purchasing an additional 1,100 shares during the quarter. nVerses Capital LLC’s holdings in Paymentus were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Paymentus during the 3rd quarter valued at $132,000. Cubist Systematic Strategies LLC raised its position in shares of Paymentus by 8.5% during the second quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after buying an additional 10,729 shares during the last quarter. Algert Global LLC lifted its stake in shares of Paymentus by 3.2% in the second quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after buying an additional 4,216 shares during the period. Millennium Management LLC grew its position in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after buying an additional 3,124 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Paymentus during the second quarter valued at about $233,000. Institutional investors and hedge funds own 12.55% of the company’s stock.

Paymentus Trading Down 2.3 %

Shares of Paymentus stock opened at $24.36 on Thursday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 97.44 and a beta of 1.46. The firm’s 50-day moving average price is $22.15 and its two-hundred day moving average price is $20.53. Paymentus Holdings, Inc. has a 1-year low of $14.17 and a 1-year high of $27.06.

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, beating analysts’ consensus estimates of $0.09 by $0.03. The firm 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 business’s revenue was up 32.6% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. As a group, equities research analysts predict that Paymentus Holdings, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

PAY has been the topic of several recent research reports. Robert W. Baird lifted their price objective on Paymentus from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group increased their price target on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, August 9th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.31.

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.