Paymentus Holdings, Inc. (NYSE:PAY) Sees Large Growth in Short Interest

Paymentus Holdings, Inc. (NYSE:PAY) was the target of a large growth in short interest in 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 short-interest ratio is currently 1.5 days. Approximately 9.2% of the company’s stock are short sold. Approximately 9.2% of the company’s stock are short sold. Based on an average trading volume of 957,728 shares, the short-interest ratio is currently 1.5 days.

Paymentus Trading Down 2.3%

PAY stock traded down $0.68 on Tuesday, hitting $28.42. The company’s stock had a trading volume of 288,022 shares, compared to its average volume of 661,680. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 61.78 and a beta of 1.49. The firm has a 50 day moving average of $32.57 and a two-hundred day moving average of $32.62. Paymentus has a 1 year low of $22.65 and a 1 year high of $40.43.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Plato Investment Management Ltd purchased a new stake in Paymentus during the 3rd quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in shares of Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,319 shares during the last quarter. Cliffwater LLC acquired a new position in shares of Paymentus in the second quarter valued at approximately $124,000. Advisors Asset Management Inc. raised its stake in shares of Paymentus by 11.7% during the second quarter. Advisors Asset Management Inc. now owns 3,853 shares of the business services provider’s stock worth $126,000 after purchasing an additional 403 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Paymentus by 35.7% during the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the business services provider’s stock worth $187,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.