Paymentus Holdings, Inc. $PAY Shares Purchased by Comerica Bank

Key Points

• Comerica Bank sharply increased its stake in Paymentus, boosting holdings by 11,320.8% in the fourth quarter to 40,544 shares valued at about $1.28 million.
• Paymentus reported strong quarterly results, with EPS of $0.21 beating estimates of $0.17 and revenue of $358.44 million topping expectations, up 30.2% year over year.
• Analyst sentiment is mostly constructive: the stock has a Moderate Buy consensus rating and an average target price of $35.20, though Goldman Sachs recently cut its target to $32.00.

Comerica Bank boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) by 11,320.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new position in shares of Paymentus in the third quarter worth about $33,000. Blue Trust Inc. grew its holdings in shares of Paymentus by 186.8% in the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider's stock valued at $64,000 after purchasing an additional 1,319 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of Paymentus during the 2nd quarter worth approximately $204,000. KLP Kapitalforvaltning AS grew its stake in shares of 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 purchasing an additional 1,500 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in Paymentus in the 2nd quarter valued at about $226,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Down 4.3%

Shares of PAY opened at $26.65 on Friday. Paymentus Holdings, Inc. has a 1 year low of $22.02 and a 1 year high of $40.43. The stock's 50-day moving average price is $25.87 and its two-hundred day moving average price is $28.94. The stock has a market cap of $3.35 billion, a P/E ratio of 46.76 and a beta of 1.40.

Paymentus (NYSE:PAY - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The business had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. During the same period last year, the company earned $0.14 earnings per share. Paymentus's quarterly revenue was up 30.2% on a year-over-year basis. As a group, equities analysts forecast that Paymentus Holdings, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PAY shares. The Goldman Sachs Group dropped their price target on shares of Paymentus from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, February 24th. Wedbush boosted their price target on shares of Paymentus from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen raised Paymentus from a "hold" rating to a "buy" rating in a report on Sunday, February 8th. 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. Finally, Robert W. Baird lifted their price target on Paymentus from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Paymentus currently has an average rating of "Moderate Buy" and a consensus target price of $35.20.

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.

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