Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Update

Paymentus Holdings, Inc. (NYSE:PAY) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 2,010,848 shares, a growth of 16.7% from the February 12th total of 1,723,818 shares. Based on an average daily trading volume, of 1,288,591 shares, the days-to-cover ratio is presently 1.6 days. Currently, 13.1% of the company’s stock are sold short. Currently, 13.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,288,591 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PAY shares. The Goldman Sachs Group decreased their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research note 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 report on Friday, March 6th. JPMorgan Chase & Co. increased their price target on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Wedbush dropped their price target on Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Hedge Funds Weigh In On Paymentus

Several large investors have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in Paymentus during the 3rd quarter worth about $33,000. Blue Trust Inc. grew 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 valued at $64,000 after buying an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Paymentus during the 4th quarter valued at about $80,000. Cliffwater LLC bought a new stake in shares of Paymentus during the second quarter valued at about $124,000. Finally, Advisors Asset Management Inc. increased its position in shares of Paymentus by 11.7% during the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock valued at $126,000 after buying an additional 403 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Trading Down 0.9%

Paymentus stock opened at $24.86 on Thursday. The business’s 50 day simple moving average is $26.28 and its 200 day simple moving average is $30.55. Paymentus has a 12 month low of $22.02 and a 12 month high of $40.43. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 47.80 and a beta of 1.50.

About Paymentus

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.