Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Up 53.8% in December

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a significant growth in short interest in the month of 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. Approximately 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 395,900 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

PAY has been the topic of several recent analyst reports. 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 upped their price objective on shares of Paymentus from $25.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company raised 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 upped 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 equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.80.

Insiders Place Their Bets

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of Paymentus stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total transaction of $1,280,401.92. Following the sale, the general counsel now owns 97,925 shares of the company’s stock, valued at approximately $3,658,478. The trade was a 25.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 87.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. nVerses Capital LLC grew its holdings in shares of Paymentus by 550.0% in the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,100 shares during the last quarter. MCF Advisors LLC increased its stake in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after purchasing an additional 650 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Paymentus by 155.1% during the 3rd 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Paymentus during the 3rd quarter worth about $43,000. Finally, Arcadia Investment Management Corp MI lifted its stake in Paymentus by 141.1% during the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Paymentus Trading Down 1.1 %

Shares of NYSE PAY traded down $0.36 during midday trading on Friday, reaching $33.01. The company’s stock had a trading volume of 467,587 shares, compared to its average volume of 283,655. Paymentus has a one year low of $14.77 and a one year high of $38.94. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 106.48 and a beta of 1.63. The company has a 50 day moving average price of $31.89 and a 200 day moving average price of $24.69.

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.