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

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 377,300 shares, a decrease of 30.8% from the August 31st total of 545,000 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 182,500 shares, the short-interest ratio is currently 2.1 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on PAY. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. JPMorgan Chase & Co. upped their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Paymentus currently has a consensus rating of “Moderate Buy” and an average price target of $20.19.

Institutional Trading of Paymentus

A number of institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its holdings in Paymentus by 8.5% in the second quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after purchasing an additional 10,729 shares in the last quarter. Algert Global LLC lifted its position in Paymentus by 3.2% during the 2nd quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after acquiring an additional 4,216 shares during the period. Millennium Management LLC boosted its stake in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after acquiring an additional 3,124 shares in the last quarter. AQR Capital Management LLC bought a new stake in Paymentus during the second quarter worth about $233,000. Finally, XTX Topco Ltd purchased a new stake in Paymentus in the second quarter worth about $339,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Stock Performance

PAY stock traded down $0.08 during trading on Friday, hitting $20.01. 139,891 shares of the company traded hands, compared to its average volume of 240,043. The company has a 50-day moving average of $21.42 and a 200-day moving average of $20.57. Paymentus has a 1 year low of $14.17 and a 1 year high of $25.21. The firm has a market capitalization of $2.48 billion, a PE ratio of 87.00 and a beta of 1.47.

Paymentus (NYSE:PAY) last issued its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Paymentus had a net margin of 4.63% and a return on equity of 9.33%. The firm had revenue of $197.42 million for the quarter, compared to analysts’ expectations of $180.57 million. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue was up 32.6% on a year-over-year basis. Sell-side analysts expect that Paymentus will post 0.32 EPS for the current year.

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.