Short Interest in Paymentus Holdings, Inc. (NYSE:PAY) Rises By 53.8%

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 407,700 shares, a growth of 53.8% from the November 30th total of 265,100 shares. Currently, 2.1% of the company's stock are sold short. Based on an average daily volume of 395,900 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PAY. Canaccord Genuity Group downgraded Paymentus from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Robert W. Baird raised their price objective on shares of Paymentus from $25.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of Paymentus from $21.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price target on shares of Paymentus from $23.50 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.80.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the transaction, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. The trade was a 25.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 87.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAY. nVerses Capital LLC grew its position in shares of Paymentus by 550.0% in the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,100 shares during the last quarter. MCF Advisors LLC grew its holdings in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider's stock valued at $28,000 after buying an additional 650 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Paymentus by 155.1% during the third quarter. Advisors Asset Management Inc. now owns 1,689 shares of the business services provider's stock worth $34,000 after buying an additional 1,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Paymentus during the third quarter worth approximately $43,000. Finally, Arcadia Investment Management Corp MI grew its stake in shares of Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider's stock worth $45,000 after acquiring an additional 1,381 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Paymentus Stock Down 1.1 %

Shares of NYSE:PAY traded down $0.36 during trading on Friday, reaching $33.01. The stock had a trading volume of 467,587 shares, compared to its average volume of 283,655. The stock has a fifty day simple moving average of $31.89 and a two-hundred day simple moving average of $24.69. Paymentus has a 52 week low of $14.77 and a 52 week high of $38.94. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 106.48 and a beta of 1.63.

Paymentus Company Profile

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.