Paymentus Holdings, Inc. (NYSE:PAY) Sees Large Increase in Short Interest

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 840,600 shares, an increase of 41.4% from the January 31st total of 594,600 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average trading volume of 430,200 shares, the short-interest ratio is presently 2.0 days.

Paymentus Stock Down 2.0 %

Paymentus stock traded down $0.55 during midday trading on Tuesday, reaching $26.44. The stock had a trading volume of 414,175 shares, compared to its average volume of 323,528. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 85.28 and a beta of 1.66. The company has a fifty day moving average of $31.04 and a 200 day moving average of $28.33.

Insider Activity

In related news, CFO Sanjay Kalra sold 15,794 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now owns 466,035 shares of the company’s stock, valued at approximately $14,908,459.65. This represents a 3.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares in the company, valued at approximately $3,033,462.90. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,136 shares of company stock valued at $1,883,831 in the last 90 days. Company insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Park Square Financial Group LLC purchased a new stake in Paymentus in the 4th quarter worth about $32,000. Advisors Asset Management Inc. raised its position in Paymentus by 155.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,027 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Paymentus in the 4th quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Paymentus in the 3rd quarter worth about $43,000. Finally, R Squared Ltd bought a new position in Paymentus in the 4th quarter worth about $43,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush assumed coverage on shares of Paymentus in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.00.

About Paymentus

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.