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

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 840,600 shares, an increase of 41.4% from the January 31st total of 594,600 shares. Based on an average daily volume of 430,200 shares, the short-interest ratio is currently 2.0 days. Currently, 4.3% of the shares of the stock are sold short.

Paymentus Stock Down 1.0 %

Shares of NYSE PAY traded down $0.27 during midday trading on Wednesday, hitting $26.11. The company had a trading volume of 84,837 shares, compared to its average volume of 388,351. Paymentus has a twelve month low of $16.94 and a twelve month high of $38.94. The business has a 50-day simple moving average of $30.89 and a two-hundred day simple moving average of $28.35. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 84.23 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAY. Canaccord Genuity Group downgraded shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Robert W. Baird lifted their target price on shares of Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Wedbush assumed coverage on shares of Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

Insider Buying and Selling

In other news, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at approximately $14,908,459.65. This trade represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the transaction, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Paymentus by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,612 shares of the business services provider’s stock valued at $510,000 after buying an additional 484 shares during the last quarter. Cetera Investment Advisers grew its stake in Paymentus by 7.1% during the fourth quarter. Cetera Investment Advisers now owns 13,296 shares of the business services provider’s stock worth $434,000 after buying an additional 883 shares during the period. Park Square Financial Group LLC purchased a new stake in Paymentus during the fourth quarter worth approximately $32,000. Swiss National Bank grew its stake in Paymentus by 2.7% during the fourth quarter. Swiss National Bank now owns 37,400 shares of the business services provider’s stock worth $1,222,000 after buying an additional 1,000 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after buying an additional 1,027 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Paymentus

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.