Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Up 16.7% in February

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a significant growth in short interest during the month of 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. Approximately 13.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,288,591 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 1,288,591 shares, the days-to-cover ratio is presently 1.6 days. Approximately 13.1% of the shares of the company are short sold.

Paymentus Price Performance

NYSE PAY opened at $25.11 on Wednesday. Paymentus has a 1 year low of $22.02 and a 1 year high of $40.43. The company has a market capitalization of $3.16 billion, a PE ratio of 48.29 and a beta of 1.50. The company has a fifty day moving average of $26.39 and a 200 day moving average of $30.59.

Analyst Ratings Changes

A number of brokerages recently issued reports on PAY. Wedbush reduced their target price on Paymentus from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. JPMorgan Chase & Co. raised their price objective on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Finally, The Goldman Sachs Group decreased their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.50.

Institutional Trading of Paymentus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its holdings in Paymentus by 11.7% in the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 403 shares during the period. Raymond James Financial Inc. grew its stake in shares of Paymentus by 0.7% during the 2nd quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider’s stock worth $1,834,000 after purchasing an additional 413 shares during the period. GSA Capital Partners LLP grew its stake in shares of Paymentus by 1.6% during the 3rd quarter. GSA Capital Partners LLP now owns 40,554 shares of the business services provider’s stock worth $1,241,000 after purchasing an additional 632 shares during the period. Hamilton Lane Advisors LLC increased its holdings in shares of Paymentus by 7.8% during the 4th quarter. Hamilton Lane Advisors LLC now owns 9,303 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 676 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 683 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

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.