Short Interest in Paymentus Holdings, Inc. (NYSE:PAY) Increases By 30.2%

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

Paymentus Stock Up 4.0 %

NYSE:PAY traded up $1.03 on Tuesday, reaching $27.13. 404,581 shares of the company’s stock were exchanged, compared to its average volume of 326,495. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 87.52 and a beta of 1.68. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94. The business has a fifty day moving average of $29.16 and a 200-day moving average of $29.13.

Analyst Ratings Changes

PAY has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Robert W. Baird reduced their target price on Paymentus from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Paymentus in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Paymentus from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Paymentus presently has a consensus rating of “Hold” and an average price target of $31.83.

Insider Activity at Paymentus

In other news, CFO Sanjay Kalra sold 15,794 shares of Paymentus stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.99, for a total transaction of $505,250.06. Following the transaction, the chief financial officer now owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 directly owns 94,855 shares of the company’s stock, valued at $3,033,462.90. This represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. 87.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently modified their holdings of PAY. Park Square Financial Group LLC acquired a new stake in shares of Paymentus in the fourth quarter valued at $32,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Paymentus in the 4th quarter valued at about $3,241,000. Castleark Management LLC purchased a new position in shares of Paymentus in the 4th quarter valued at about $3,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Paymentus by 34.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,308 shares of the business services provider’s stock valued at $1,513,000 after buying an additional 11,924 shares during the period. Finally, Wolverine Trading LLC acquired a new position in shares of Paymentus during the fourth quarter worth about $291,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.