Dark Forest Capital Management LP Invests $259,000 in Paymentus Holdings, Inc. (NYSE:PAY)

Dark Forest Capital Management LP acquired a new position in shares of Paymentus Holdings, Inc. (NYSE:PAY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,919 shares of the business services provider's stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Tennessee Department of Treasury acquired a new position in shares of Paymentus during the 4th quarter worth $144,000. Tower Research Capital LLC TRC increased its holdings in Paymentus by 2,037.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the business services provider's stock valued at $210,000 after acquiring an additional 6,113 shares in the last quarter. Capital International Investors raised its position in Paymentus by 25.6% during the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock worth $142,509,000 after acquiring an additional 888,914 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Paymentus by 3.8% in the fourth quarter. Marshall Wace LLP now owns 213,862 shares of the business services provider's stock valued at $6,987,000 after purchasing an additional 7,880 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Paymentus in the fourth quarter valued at approximately $4,069,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total transaction of $505,250.06. Following the completion of the sale, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the completion of the sale, the general counsel now owns 94,855 shares of the company's stock, valued at approximately $3,033,462.90. This represents a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is owned by company insiders.

Paymentus Trading Up 3.3 %

Shares of PAY traded up $1.12 during mid-day trading on Friday, reaching $34.57. The company had a trading volume of 569,447 shares, compared to its average volume of 340,248. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 111.52 and a beta of 1.61. The firm has a fifty day simple moving average of $28.12 and a 200-day simple moving average of $30.33. Paymentus Holdings, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $38.94.

Analyst Upgrades and Downgrades

PAY has been the subject of several research reports. Robert W. Baird cut their price objective on Paymentus from $36.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group set a $28.00 price objective on Paymentus and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Wedbush reiterated an "outperform" rating and set a $38.00 price objective on shares of Paymentus in a research report on Wednesday, March 12th. Wells Fargo & Company boosted their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, StockNews.com raised shares of Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.00.

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.