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

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PAY. Robert W. Baird increased their price objective on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, 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 report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Paymentus has an average rating of “Moderate Buy” and an average target price of $35.20.

Paymentus Stock Up 2.0%

NYSE:PAY traded up $0.59 during mid-day trading on Thursday, hitting $29.59. 797,410 shares of the stock traded hands, compared to its average volume of 808,066. Paymentus has a 52 week low of $20.11 and a 52 week high of $39.38. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 51.92 and a beta of 1.31. The firm’s 50 day moving average is $24.02 and its two-hundred day moving average is $25.75.

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

Institutional Trading of Paymentus

Institutional investors have recently modified their holdings of the company. Wasatch Advisors LP raised its stake 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 in the last quarter. Capital International Investors boosted its stake in Paymentus by 6.6% in the fourth quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock valued at $241,835,000 after acquiring an additional 474,780 shares in the last quarter. Vanguard Group Inc. grew its holdings in Paymentus by 20.7% in the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after purchasing an additional 753,281 shares during the last quarter. Invesco Ltd. grew its holdings in Paymentus by 115.8% in the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after purchasing an additional 2,032,819 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Paymentus by 4.4% during the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock worth $78,962,000 after purchasing an additional 105,970 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

About Paymentus

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.