Short Interest in Paymentus Holdings, Inc. (NYSE:PAY) Grows By 88.2%

Paymentus Holdings, Inc. (NYSE:PAY) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 3,284,666 shares, a growth of 88.2% from the June 15th total of 1,745,553 shares. Approximately 10.6% of the shares of the company are sold short. Based on an average daily volume of 2,011,638 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Paymentus

A number of hedge funds have recently bought and sold shares of the stock. KBC Group NV bought a new stake in shares of Paymentus during the first quarter valued at approximately $41,000. Blue Trust Inc. increased its holdings in Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after buying an additional 1,319 shares during the period. Los Angeles Capital Management LLC bought a new position in Paymentus in the fourth quarter valued at about $80,000. Orange County Employees Retirement System bought a new stake in Paymentus during the fourth quarter valued at $150,000. Finally, Advisors Asset Management Inc. increased its stake in Paymentus by 26.0% during the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 1,042 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PAY shares. Robert W. Baird boosted their target price on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Wedbush boosted their price target on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Paymentus currently has a consensus rating of “Moderate Buy” and an average price target of $35.20.

Paymentus Trading Up 0.4%

PAY traded up $0.10 during mid-day trading on Friday, hitting $29.75. 708,446 shares of the stock were exchanged, compared to its average volume of 807,328. Paymentus has a 1-year low of $20.11 and a 1-year high of $39.38. The firm’s fifty day moving average is $24.05 and its two-hundred day moving average is $25.73. The company has a market cap of $3.74 billion, a PE ratio of 52.19 and a beta of 1.31.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The company had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. During the same quarter last year, the business earned $0.14 EPS. The business’s revenue was up 30.2% on a year-over-year basis. As a group, research analysts anticipate that Paymentus will post 0.65 earnings per share for the current year.

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.