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

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PAY. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Paymentus in a report on Wednesday, March 12th. Wells Fargo & Company upped 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. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Robert W. Baird lowered their price objective on Paymentus from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.83.

Paymentus Price Performance

NYSE PAY traded up $0.19 on Wednesday, hitting $27.39. 387,399 shares of the stock were exchanged, compared to its average volume of 468,910. The company’s 50-day moving average price is $29.16 and its two-hundred day moving average price is $29.13. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 88.35 and a beta of 1.68. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94.

Insider Transactions at Paymentus

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently bought and sold shares of PAY. Park Square Financial Group LLC acquired a new position in shares of Paymentus in the 4th quarter valued at about $32,000. Advisors Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 1,027 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Paymentus during the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Paymentus in the third quarter valued at about $43,000. Finally, R Squared Ltd acquired a new position in Paymentus in the 4th quarter worth about $43,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.