Short Interest in Paymentus Holdings, Inc. (NYSE:PAY) Declines By 36.0%

Paymentus Holdings, Inc. (NYSE:PAY) saw 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. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 349,100 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

A number of analysts have recently commented on PAY shares. Robert W. Baird upped their price target on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group cut shares of Paymentus from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their target price on Paymentus from $23.50 to $33.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company increased their price target on Paymentus from $21.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Paymentus Trading Down 1.7 %

Shares of PAY stock traded down $0.61 on Friday, hitting $34.35. 317,066 shares of the stock were exchanged, compared to its average volume of 275,871. The firm has a market capitalization of $4.28 billion, a P/E ratio of 110.81 and a beta of 1.63. Paymentus has a fifty-two week low of $14.77 and a fifty-two week high of $38.94. The business has a 50-day moving average of $29.73 and a 200 day moving average of $23.72.

Insider Activity

In other Paymentus 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 sale, the general counsel now owns 97,925 shares in the company, valued at approximately $3,658,478. The trade was a 25.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after purchasing an additional 20,767 shares during the last quarter. State Street Corp grew its stake in shares of Paymentus by 2.6% in the third quarter. State Street Corp now owns 300,414 shares of the business services provider’s stock valued at $6,014,000 after buying an additional 7,525 shares in the last quarter. Millennium Management LLC increased its holdings in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after buying an additional 3,124 shares during the last quarter. FMR LLC raised its position in Paymentus by 32,191.6% during the third quarter. FMR LLC now owns 227,979 shares of the business services provider’s stock worth $4,564,000 after acquiring an additional 227,273 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Paymentus by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 206,140 shares of the business services provider’s stock valued at $4,129,000 after acquiring an additional 5,127 shares during the period. Institutional investors own 78.38% of the company’s stock.

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.