TimesSquare Capital Management LLC Grows Stock Holdings in Paymentus Holdings, Inc. $PAY

TimesSquare Capital Management LLC boosted its holdings in Paymentus Holdings, Inc. (NYSE:PAY) by 15.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 781,609 shares of the business services provider’s stock after buying an additional 105,997 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.62% of Paymentus worth $25,598,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. AlphaQuest LLC increased its holdings in shares of Paymentus by 152,600.0% in the 1st quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 1,526 shares during the last quarter. Summit Securities Group LLC acquired a new position in Paymentus in the first quarter valued at approximately $47,000. Advisors Asset Management Inc. increased its stake in Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 665 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in Paymentus by 35.7% during the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock worth $187,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Paymentus by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,202 shares of the business services provider’s stock worth $214,000 after buying an additional 823 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on PAY shares. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday. Raymond James Financial set a $38.00 price objective on Paymentus and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Wolfe Research upgraded Paymentus from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paymentus in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Paymentus Trading Down 0.2%

Shares of PAY stock opened at $37.70 on Wednesday. The company has a market capitalization of $4.72 billion, a P/E ratio of 81.96 and a beta of 1.50. The business’s 50 day moving average is $32.50 and its two-hundred day moving average is $33.65. Paymentus Holdings, Inc. has a twelve month low of $22.65 and a twelve month high of $40.43.

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.