Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Up 30.2% in March

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,130,000 shares, an increase of 30.2% from the February 28th total of 867,700 shares. Based on an average daily volume of 483,500 shares, the short-interest ratio is presently 2.3 days. Currently, 4.4% of the company’s stock are short sold.

Analysts Set New Price Targets

PAY has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their price target on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Wells Fargo & Company boosted their target price on Paymentus from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Paymentus in a research note on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.83.

Paymentus Stock Performance

NYSE PAY traded up $1.03 during trading on Tuesday, reaching $27.13. The company’s stock had a trading volume of 404,581 shares, compared to its average volume of 326,495. Paymentus has a twelve month low of $16.94 and a twelve month high of $38.94. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 87.52 and a beta of 1.68. The business’s fifty day moving average price is $29.16 and its 200-day moving average price is $29.13.

Insider Buying and Selling

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAY. Advisors Asset Management Inc. grew its stake in shares of Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,027 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Paymentus during the third quarter worth $629,000. FMR LLC lifted its holdings in shares of Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after purchasing an additional 227,273 shares during the period. PDT Partners LLC grew its position in Paymentus by 39.4% in the 3rd quarter. PDT Partners LLC now owns 48,174 shares of the business services provider’s stock valued at $964,000 after buying an additional 13,621 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Paymentus in the 3rd quarter valued at $43,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Company Profile

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.