Short Interest in Paymentus Holdings, Inc. (NYSE:PAY) Rises By 20.9%

Paymentus Holdings, Inc. (NYSE:PAY) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,410,571 shares, a growth of 20.9% from the December 15th total of 1,166,595 shares. Based on an average trading volume of 957,728 shares, the days-to-cover ratio is presently 1.5 days. Approximately 9.2% of the shares of the company are short sold. Approximately 9.2% of the shares of the company are short sold. Based on an average trading volume of 957,728 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

Several analysts have issued reports on PAY shares. Weiss Ratings restated a “hold (c+)” rating on shares of Paymentus in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on Paymentus from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Finally, Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Paymentus presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Hedge Funds Weigh In On Paymentus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP grew its holdings in shares of Paymentus by 210.1% during the third quarter. Wasatch Advisors LP now owns 4,694,109 shares of the business services provider’s stock worth $143,640,000 after purchasing an additional 3,180,156 shares during the last quarter. Invesco Ltd. lifted its position in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after buying an additional 2,032,819 shares in the last quarter. Capital International Investors grew its holdings in Paymentus by 17.6% during the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after acquiring an additional 1,072,387 shares during the last quarter. Vanguard Group Inc. grew its holdings in Paymentus by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock worth $111,341,000 after acquiring an additional 903,627 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in Paymentus in the 3rd quarter valued at about $19,503,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Price Performance

Shares of Paymentus stock traded down $0.21 during trading on Monday, hitting $29.10. 376,263 shares of the company’s stock traded hands, compared to its average volume of 668,264. The company has a market cap of $3.65 billion, a PE ratio of 63.26 and a beta of 1.49. The firm’s fifty day moving average price is $32.57 and its 200 day moving average price is $32.62. Paymentus has a twelve month low of $22.65 and a twelve month high of $40.43.

Paymentus Company Profile

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.