Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Up 88.2% in June

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

Wall Street Analyst Weigh In

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

Paymentus Stock Up 0.4%

Paymentus stock opened at $29.75 on Friday. The business has a 50 day moving average price of $24.11 and a two-hundred day moving average price of $25.76. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 52.19 and a beta of 1.31. Paymentus has a 12 month low of $20.11 and a 12 month high of $39.38.

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

Institutional Investors Weigh In On Paymentus

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its holdings in shares of Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after acquiring an additional 3,859,056 shares during the period. Capital International Investors grew its stake in Paymentus by 6.6% during the fourth quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock worth $241,835,000 after buying an additional 474,780 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Paymentus by 20.7% during the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after buying an additional 753,281 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after buying an additional 2,032,819 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Paymentus by 4.4% in the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock valued at $78,962,000 after acquiring an additional 105,970 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

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.