SCHEDULE: Driehaus Capital Management Trims Paymentus Stake

Driehaus Capital Management LLC has reduced its beneficial ownership in Paymentus Holdings, Inc. to 5.44% as of September 30, 2025, down from 7.23%.

Summary

• Driehaus Capital Management LLC (DCM) filed an Amendment No. 2 to Schedule 13G for Paymentus Holdings, Inc. (PAY).
• As of September 30, 2025, DCM beneficially owned 2,469,073 shares of Paymentus Holdings, Inc. Common Stock.
• This represents 5.44% of the class of securities.
• This ownership percentage is a decrease from the 7.23% DCM held as of June 30, 2025.
• DCM holds shared voting power and shared dispositive power over all 2,469,073 shares.
• The shares are held by numerous clients on a fully discretionary basis in accounts managed by DCM.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to the significant reduction in beneficial ownership by an institutional investor, which can be interpreted as a decrease in confidence or a strategic reallocation away from Paymentus Holdings, Inc.

Negatives

• Driehaus Capital Management LLC reduced its beneficial ownership in Paymentus Holdings, Inc. from 7.23% to 5.44%, indicating a decrease in institutional conviction or a reallocation of assets.

Future Outlook

NA

Industry Context

This filing reflects a routine disclosure of an institutional investor's stake in a publicly traded company, common in the financial services industry. Changes in institutional ownership can sometimes signal shifts in investor sentiment or strategy regarding a particular stock or sector.

Stakeholder Impact

• Shareholders may view the reduction in institutional ownership as a negative signal, potentially leading to increased scrutiny of the company's performance and future prospects.
• Potential investors might interpret this as a sign of reduced institutional confidence, influencing their investment decisions.

Key Dates

Recommendation

The reduction in Driehaus Capital Management's stake in Paymentus Holdings, Inc. from 7.23% to 5.44% is a notable institutional divestment. While not a definitive 'sell' signal on its own, it warrants caution and suggests that investors should 'hold' their positions and monitor future developments, including other institutional ownership changes and company-specific news, before making further investment decisions. This move indicates a potential shift in institutional sentiment or portfolio strategy.

Keywords

Paymentus Holdings, PAY, Driehaus Capital Management, Schedule 13G, Beneficial Ownership, Institutional Ownership, Common Stock