Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Up 41.4% in February

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 840,600 shares, an increase of 41.4% from the January 31st total of 594,600 shares. Based on an average daily volume of 430,200 shares, the short-interest ratio is currently 2.0 days. Approximately 4.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the sale, the general counsel now directly owns 94,855 shares in the company, valued at $3,033,462.90. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sanjay Kalra sold 15,794 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company's stock, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 87.76% of the company's stock.

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Hedge Funds Weigh In On Paymentus

A number of large investors have recently modified their holdings of PAY. Park Square Financial Group LLC purchased a new stake in Paymentus in the 4th quarter worth approximately $32,000. TimesSquare Capital Management LLC bought a new position in shares of Paymentus in the fourth quarter worth $35,000. R Squared Ltd purchased a new stake in shares of Paymentus in the fourth quarter worth $43,000. Advisors Asset Management Inc. boosted its stake in Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock valued at $34,000 after buying an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Paymentus during the third quarter worth about $43,000. 78.38% of the stock is currently owned by institutional investors.

Paymentus Stock Performance

NYSE PAY traded up $0.52 during trading hours on Friday, hitting $26.47. The company had a trading volume of 617,795 shares, compared to its average volume of 314,581. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 85.38 and a beta of 1.69. Paymentus has a 52 week low of $16.94 and a 52 week high of $38.94. The firm has a 50 day simple moving average of $30.58 and a 200 day simple moving average of $28.31.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAY. The Goldman Sachs Group lifted their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Wells Fargo & Company boosted their target price on Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Robert W. Baird increased their price target on Paymentus from $25.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Wedbush started coverage on Paymentus in a report on Monday, February 3rd. They issued an "outperform" rating for the company. Finally, Canaccord Genuity Group downgraded shares of Paymentus from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.00.

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.