102,758 Shares in Paymentus Holdings, Inc. $PAY Acquired by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. bought a new position in Paymentus Holdings, Inc. (NYSE:PAY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 102,758 shares of the business services provider’s stock, valued at approximately $3,246,000. University of Texas Texas AM Investment Management Co. owned 0.08% of Paymentus at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PAY. Granite Investment Partners LLC bought a new position in shares of Paymentus in the third quarter worth $8,155,000. Capital International Investors raised its holdings in shares of Paymentus by 17.6% in the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after purchasing an additional 1,072,387 shares in the last quarter. Vanguard Group Inc. lifted its stake in Paymentus by 33.0% during the third quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock valued at $111,341,000 after purchasing an additional 903,627 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in Paymentus by 140.0% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 78,328 shares of the business services provider’s stock worth $2,474,000 after buying an additional 45,687 shares in the last quarter. Finally, Comerica Bank grew its position in Paymentus by 11,320.8% in the fourth quarter. Comerica Bank now owns 40,544 shares of the business services provider’s stock worth $1,281,000 after buying an additional 40,189 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

PAY has been the subject of several research reports. Weiss Ratings lowered Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th. Wedbush increased their price target on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group cut their price target on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Finally, Robert W. Baird lifted their price objective on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Paymentus currently has a consensus rating of “Moderate Buy” and an average price target of $35.20.

Paymentus Price Performance

Shares of Paymentus stock opened at $21.31 on Tuesday. The firm has a fifty day moving average price of $24.89 and a two-hundred day moving average price of $27.00. Paymentus Holdings, Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $39.38. The company has a market cap of $2.68 billion, a PE ratio of 37.38 and a beta of 1.33.

Paymentus (NYSE:PAY) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. Analysts expect that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current fiscal year.

Paymentus Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.