Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Down 36.1% in September

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 241,000 shares, a decrease of 36.1% from the September 15th total of 377,300 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 166,300 shares, the days-to-cover ratio is presently 1.4 days.

Paymentus Trading Up 1.0 %

PAY traded up $0.22 during trading on Monday, reaching $23.00. The stock had a trading volume of 320,860 shares, compared to its average volume of 237,889. Paymentus has a one year low of $14.17 and a one year high of $25.21. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 99.04 and a beta of 1.46. The stock’s 50 day moving average is $21.47 and its two-hundred day moving average is $20.35.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Paymentus had a net margin of 4.63% and a return on equity of 9.33%. The business had revenue of $197.42 million for the quarter, compared to analysts’ expectations of $180.57 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts predict that Paymentus will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Paymentus

A number of hedge funds have recently bought and sold shares of PAY. ClariVest Asset Management LLC lifted its stake in shares of Paymentus by 128,017.4% in the first quarter. ClariVest Asset Management LLC now owns 58,934 shares of the business services provider’s stock worth $1,341,000 after buying an additional 58,888 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Paymentus in the first quarter worth $1,053,000. Quadrature Capital Ltd lifted its holdings in shares of Paymentus by 130.1% during the first quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock valued at $1,575,000 after purchasing an additional 39,136 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Paymentus during the first quarter valued at $513,000. Finally, Dimensional Fund Advisors LP raised its position in Paymentus by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after buying an additional 20,767 shares during the last quarter. Institutional investors own 12.55% of the company’s stock.

Analysts Set New Price Targets

PAY has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. The Goldman Sachs Group raised their price target on Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Robert W. Baird increased their price objective on Paymentus from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday. Finally, StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.31.

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.