Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Down 36.1% in September

Paymentus Holdings, Inc. (NYSE:PAY) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 241,000 shares, a drop of 36.1% from the September 15th total of 377,300 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 166,300 shares, the days-to-cover ratio is presently 1.4 days.

Paymentus Stock Up 1.1 %

PAY traded up $0.24 during trading on Monday, reaching $23.02. 361,698 shares of the company’s stock were exchanged, compared to its average volume of 238,095. Paymentus has a fifty-two week low of $14.17 and a fifty-two week high of $25.21. The business has a 50 day moving average price of $21.47 and a 200 day moving average price of $20.35. The company has a market capitalization of $2.86 billion, a P/E ratio of 99.04 and a beta of 1.46.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $197.42 million during the quarter, compared to analysts’ expectations of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The business’s revenue was up 32.6% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. As a group, research analysts forecast that Paymentus will post 0.32 EPS for the current year.

Analyst Ratings Changes

PAY has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a research report on Monday, July 8th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Baird R W upgraded shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Robert W. Baird raised their price objective on shares of Paymentus from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of “Moderate Buy” and a consensus price target of $20.31.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MCF Advisors LLC raised its holdings in shares of Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after buying an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Paymentus in the first quarter valued at about $106,000. SG Americas Securities LLC bought a new position in shares of Paymentus in the third quarter valued at about $132,000. Finally, RiverPark Advisors LLC bought a new position in shares of Paymentus in the first quarter valued at about $136,000. 12.55% of the stock is owned by 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.