Paymentus Holdings, Inc. (NYSE:PAY) Short Interest Update

Paymentus Holdings, Inc. (NYSE:PAY) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 265,100 shares, a decrease of 36.0% from the November 15th total of 414,500 shares. Based on an average daily volume of 349,100 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.4% of the shares of the company are sold short.

Insider Activity at Paymentus

In related news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’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 completion of the transaction, the general counsel now directly owns 97,925 shares in the company, valued at $3,658,478. This represents a 25.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 87.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paymentus

Large investors have recently bought and sold shares of the business. Comerica Bank grew its holdings in Paymentus by 4,713.1% during the 1st quarter. Comerica Bank now owns 20,552 shares of the business services provider’s stock worth $468,000 after acquiring an additional 20,125 shares during the last quarter. RiverPark Advisors LLC grew its stake in shares of Paymentus by 139.1% during the second quarter. RiverPark Advisors LLC now owns 14,269 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 8,302 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of Paymentus by 61.5% in the second quarter. Ridgewood Investments LLC now owns 42,000 shares of the business services provider’s stock valued at $798,000 after purchasing an additional 16,000 shares in the last quarter. MCF Advisors LLC raised its position 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 during the last quarter. Finally, Arcadia Investment Management Corp MI lifted its holdings in Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after buying an additional 1,381 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Stock Performance

Paymentus stock traded down $0.61 during trading hours on Friday, hitting $34.35. 317,066 shares of the stock were exchanged, compared to its average volume of 275,871. The stock has a market capitalization of $4.28 billion, a P/E ratio of 110.81 and a beta of 1.63. The business’s 50-day moving average is $29.73 and its two-hundred day moving average is $23.72. Paymentus has a 12 month low of $14.77 and a 12 month high of $38.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird upped their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their target price on shares of Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.80.

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.