Comerica Bank Purchases 40,189 Shares of Paymentus Holdings, Inc. $PAY

Comerica Bank increased its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 11,320.8% during the fourth quarter, HoldingsChannel reports. The fund owned 40,544 shares of the business services provider’s stock after buying an additional 40,189 shares during the quarter. Comerica Bank’s holdings in Paymentus were worth $1,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Paymentus during the 3rd quarter worth about $33,000. Blue Trust Inc. lifted its holdings in Paymentus by 186.8% during the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after buying an additional 1,319 shares during the period. Vident Advisory LLC acquired a new position in Paymentus during the 2nd quarter worth about $204,000. KLP Kapitalforvaltning AS lifted its holdings in Paymentus by 26.3% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 7,200 shares of the business services provider’s stock worth $220,000 after buying an additional 1,500 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Paymentus during the 2nd quarter worth about $226,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Trading Down 4.3%

NYSE:PAY opened at $26.65 on Friday. Paymentus Holdings, Inc. has a 12 month low of $22.02 and a 12 month high of $40.43. The company has a 50 day simple moving average of $25.87 and a two-hundred day simple moving average of $28.94. The company has a market cap of $3.35 billion, a PE ratio of 46.76 and a beta of 1.40.

Paymentus (NYSE:PAY) last announced its 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 net margin of 5.78% and a return on equity of 13.75%. The firm had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. During the same period in the prior year, the company earned $0.14 EPS. The business’s revenue was up 30.2% compared to the same quarter last year. Research analysts forecast that Paymentus Holdings, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird lifted their target price on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James Financial restated a “strong-buy” rating and set a $36.00 target price on shares of Paymentus in a research report on Friday, March 6th. Wedbush increased their price objective on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Finally, The Goldman Sachs Group cut their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. One 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’s stock. According to data from MarketBeat, Paymentus presently has an average rating of “Moderate Buy” and an average target price of $35.20.

Paymentus Company 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.