University of Texas Texas AM Investment Management Co. Invests $3.25 Million in Paymentus Holdings, Inc. $PAY

University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Paymentus Holdings, Inc. (NYSE:PAY) in the fourth quarter, Holdings Channel.com reports. The fund purchased 102,758 shares of the business services provider’s stock, valued at approximately $3,246,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in shares of Paymentus by 26.8% in the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock valued at $4,780,000 after buying an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Paymentus by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after purchasing an additional 683 shares in the last quarter. Millennium Management LLC grew its stake in shares of Paymentus by 4.2% during the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock valued at $6,365,000 after purchasing an additional 9,890 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock valued at $14,927,000 after purchasing an additional 419,736 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Paymentus by 34.7% during the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after buying an additional 6,616 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Paymentus Price Performance

Paymentus stock opened at $21.31 on Tuesday. The company’s 50 day simple moving average is $24.89 and its 200 day simple moving average is $27.00. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 37.38 and a beta of 1.33. Paymentus Holdings, Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $39.38.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping 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 revenue for the quarter was up 30.2% on a year-over-year basis. As a group, analysts predict that Paymentus Holdings, Inc. will post 0.65 EPS for the current fiscal year.

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.