Short Interest in Paymentus Holdings, Inc. (NYSE:PAY) Expands By 25.5%

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 302,500 shares, a growth of 25.5% from the September 30th total of 241,000 shares. Based on an average daily trading volume, of 197,500 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAY. StockNews.com upgraded Paymentus from a "sell" rating to a "hold" rating in a report on Saturday, August 3rd. The Goldman Sachs Group lifted their price objective on Paymentus from $21.00 to $23.50 and gave the stock a "neutral" rating in a report on Friday, August 9th. Baird R W upgraded Paymentus from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th. Canaccord Genuity Group raised Paymentus to a "strong-buy" rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their target price on Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.31.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently made changes to their positions in PAY. Better Money Decisions LLC acquired a new position in Paymentus during the 3rd quarter valued at about $205,000. nVerses Capital LLC increased its position in Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock valued at $26,000 after buying an additional 1,100 shares in the last quarter. SG Americas Securities LLC acquired a new position in Paymentus during the 3rd quarter valued at about $132,000. Cubist Systematic Strategies LLC increased its position in Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider's stock valued at $2,608,000 after buying an additional 10,729 shares in the last quarter. Finally, Algert Global LLC increased 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 buying an additional 4,216 shares in the last quarter. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Stock Down 0.7 %

PAY traded down $0.16 during trading hours on Monday, reaching $24.37. 191,524 shares of the company's stock traded hands, compared to its average volume of 242,255. The firm has a 50-day moving average price of $22.21 and a 200 day moving average price of $20.58. Paymentus has a 52-week low of $14.17 and a 52-week high of $27.06. The firm has a market capitalization of $3.03 billion, a PE ratio of 99.48 and a beta of 1.46.

Paymentus (NYSE:PAY - Get Free Report) last issued its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The business had revenue of $197.42 million during the quarter, compared to analysts' expectations of $180.57 million. During the same period in the prior year, the business earned $0.06 EPS. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. Equities analysts predict that Paymentus will post 0.32 EPS for the current fiscal year.

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.

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