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

Paymentus Holdings, Inc. (NYSE:PAY) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,410,571 shares, an increase 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 presently 1.5 days. Currently, 9.2% of the company’s stock are short sold. Currently, 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 presently 1.5 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Paymentus in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Paymentus presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAY. Capital International Investors boosted its holdings in Paymentus by 17.6% during the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock valued at $219,728,000 after acquiring an additional 1,072,387 shares during the period. Wasatch Advisors LP lifted its position in shares of Paymentus by 210.1% during the 3rd 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. boosted its stake in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after purchasing an additional 2,032,819 shares during the period. Vanguard Group Inc. grew its holdings in Paymentus by 33.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,638,609 shares of the business services provider’s stock valued at $111,341,000 after buying an additional 903,627 shares during the last quarter. Finally, Capital World Investors increased its position in Paymentus by 14.6% in the 3rd quarter. Capital World Investors now owns 2,393,613 shares of the business services provider’s stock worth $73,245,000 after buying an additional 304,399 shares during the period. Institutional investors own 78.38% of the company’s stock.

Paymentus Price Performance

PAY traded down $0.21 on Monday, hitting $29.10. The company had a trading volume of 376,263 shares, compared to its average volume of 668,264. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 63.26 and a beta of 1.49. The company’s fifty day moving average price is $32.57 and its 200 day moving average price is $32.62. Paymentus has a 1-year low of $22.65 and a 1-year 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.