Swiss National Bank Purchases 18,400 Shares of Paymentus Holdings, Inc. $PAY

Swiss National Bank boosted its position in shares of Paymentus Holdings, Inc. (NYSE:PAY) by 22.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,900 shares of the business services provider’s stock after buying an additional 18,400 shares during the period. Swiss National Bank owned approximately 0.08% of Paymentus worth $2,512,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after buying an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paymentus during the 4th quarter worth approximately $80,000. Orange County Employees Retirement System acquired a new stake in shares of Paymentus during the 4th quarter worth approximately $150,000. Advisors Asset Management Inc. increased its stake in Paymentus by 26.0% in the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in Paymentus in the second quarter valued at approximately $204,000. 78.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Paymentus news, Director Gary Trainor sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $33.12, for a total transaction of $1,324,800.00. Following the sale, the director owned 629,888 shares of the company’s stock, valued at approximately $20,861,890.56. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 55.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PAY has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Robert W. Baird lowered Paymentus from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Thursday. Finally, Wedbush boosted their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Paymentus presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Trading Down 4.9%

PAY opened at $34.90 on Friday. The company’s 50 day moving average is $25.30 and its 200-day moving average is $25.78. Paymentus Holdings, Inc. has a 1-year low of $20.11 and a 1-year high of $39.38. The company has a market cap of $4.39 billion, a P/E ratio of 61.22 and a beta of 1.31.

Paymentus (NYSE:PAY) last announced 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. The company had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The firm’s revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities analysts forecast that Paymentus Holdings, Inc. will post 0.71 EPS for the current 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.