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

Paymentus Holdings, Inc. (NYSE:PAY) saw a large 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 currently 1.6 days. Approximately 13.1% of the company’s shares are sold short. Approximately 13.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,288,591 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PAY shares. Wedbush reduced their target price on shares of Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 price target on shares of Paymentus in a report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Hedge Funds Weigh In On Paymentus

Institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its stake in shares of Paymentus by 82.2% in the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after acquiring an additional 3,859,056 shares during the period. Invesco Ltd. grew its holdings in Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after acquiring an additional 2,032,819 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Paymentus during the fourth quarter valued at approximately $60,452,000. Capital International Investors lifted its holdings in Paymentus by 17.6% in the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock valued at $219,728,000 after acquiring an additional 1,072,387 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in Paymentus by 148.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after purchasing an additional 943,244 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Up 0.5%

NYSE:PAY opened at $24.68 on Tuesday. The company’s 50 day moving average is $26.49 and its two-hundred day moving average is $30.69. The company has a market cap of $3.10 billion, a PE ratio of 47.47 and a beta of 1.50. Paymentus has a twelve month low of $22.02 and a twelve month high of $40.43.

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.