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

Paymentus Holdings, Inc. (NYSE:PAY) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 407,700 shares, an increase of 53.8% from the November 30th total of 265,100 shares. Based on an average daily volume of 395,900 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.1% of the shares of the stock are sold short.

Paymentus Price Performance

Shares of Paymentus stock traded up $0.30 during trading on Monday, hitting $33.31. 313,020 shares of the stock were exchanged, compared to its average volume of 283,772. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 107.45 and a beta of 1.63. The firm’s 50-day moving average price is $31.89 and its 200 day moving average price is $24.76. Paymentus has a 12-month low of $14.77 and a 12-month high of $38.94.

Insiders Place Their Bets

In other news, General Counsel Andrew A. Gerber sold 34,272 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $37.36, for a total value of $1,280,401.92. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 87.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC grew its holdings in shares of Paymentus by 80.1% during the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings 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 worth $45,000 after purchasing an additional 1,381 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Paymentus by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after purchasing an additional 20,767 shares in the last quarter. XTX Topco Ltd acquired a new position in Paymentus during the 2nd quarter worth approximately $339,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after buying an additional 10,729 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

PAY has been the subject of several analyst reports. Robert W. Baird upped their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lowered shares of Paymentus from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their target price on shares of Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price target 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. Seven investment 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 company’s stock. Based on data from MarketBeat.com, Paymentus currently has an average rating of “Hold” and a consensus price target of $28.80.

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.