Paymentus Holdings, Inc. (NYSE:PAY – Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 241,000 shares, a decline of 36.1% from the September 15th total of 377,300 shares. Based on an average daily volume of 166,300 shares, the short-interest ratio is presently 1.4 days. Currently, 1.4% of the shares of the company are short sold.
Institutional Trading of Paymentus
A number of large investors have recently added to or reduced their stakes in PAY. Quadrature Capital Ltd purchased a new position in shares of Paymentus in the fourth quarter worth about $537,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Paymentus by 15.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,441 shares of the business services provider’s stock worth $579,000 after purchasing an additional 3,341 shares in the last quarter. RiverPark Advisors LLC purchased a new position in shares of Paymentus in the first quarter worth about $136,000. GSA Capital Partners LLP purchased a new position in shares of Paymentus in the first quarter worth about $1,053,000. Finally, Essex Investment Management Co. LLC increased its stake in shares of Paymentus by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock worth $4,699,000 after purchasing an additional 1,141 shares in the last quarter. Hedge funds and other institutional investors own 12.55% of the company’s stock.
Paymentus Trading Up 7.7 %
NYSE PAY traded up $1.63 on Friday, hitting $22.78. 187,532 shares of the company were exchanged, compared to its average volume of 237,467. Paymentus has a 12 month low of $14.17 and a 12 month high of $25.21. The company has a market cap of $2.84 billion, a PE ratio of 91.04 and a beta of 1.46. The stock has a fifty day moving average of $21.47 and a 200-day moving average of $20.38.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PAY. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a report on Friday, August 9th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. Robert W. Baird upped their price target on shares of Paymentus from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Paymentus presently has an average rating of “Moderate Buy” and an average target price of $20.19.
Get Our Latest Report on Paymentus
Paymentus Company Profile
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.
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