Paymentus Holdings, Inc. (NYSE:PAY) Sees Significant Growth in Short Interest

Paymentus Holdings, Inc. (NYSE:PAY) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 2,010,848 shares, an increase of 16.7% from the February 12th total of 1,723,818 shares. Currently, 13.1% of the shares of the stock are sold short. Based on an average daily volume of 1,288,591 shares, the short-interest ratio is presently 1.6 days. Based on an average daily volume of 1,288,591 shares, the short-interest ratio is presently 1.6 days. Currently, 13.1% of the shares of the stock are sold short.

Paymentus Stock Performance

Shares of PAY stock opened at $24.68 on Tuesday. Paymentus has a fifty-two week low of $22.02 and a fifty-two week high of $40.43. The company has a 50 day moving average price of $26.49 and a 200 day moving average price of $30.69. The stock has a market capitalization of $3.10 billion, a P/E ratio of 47.47 and a beta of 1.50.

Institutional Trading of Paymentus

A number of large investors have recently modified their holdings of the stock. Vident Advisory LLC raised its stake in shares of Paymentus by 20.5% in the fourth quarter. Vident Advisory LLC now owns 135,602 shares of the business services provider’s stock valued at $4,284,000 after acquiring an additional 23,054 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Paymentus during the 4th quarter worth $60,452,000. XTX Topco Ltd increased its holdings in Paymentus by 417.7% during the 4th quarter. XTX Topco Ltd now owns 42,164 shares of the business services provider’s stock worth $1,332,000 after purchasing an additional 34,019 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Paymentus in the 4th quarter valued at about $793,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Paymentus in the 4th quarter valued at about $1,874,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PAY. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Wedbush decreased their target price on Paymentus from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 price objective on shares of Paymentus in a report on Friday, March 6th. Finally, JPMorgan Chase & Co. lifted their target price on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Paymentus Company Profile

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.