Paymentus Holdings
PAY on NYSE. Paymentus Holdings sells bill payment software to billers and financial institutions. Market value $1.4bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.97 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 55 of 100. Price score: 44 of 100. Our list needs 70 on quality and 60 on price.
$31.71 a share, 58% above its 1-year low
Over the past year the price has ranged from $20.11 to $45.31.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $396m | $497m | $614m | $872m | $1.2bn |
| Operating margin | |||||
| Operating margin | 2.6% | -0.6% | 2.9% | 5.1% | 6.3% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.00bn | 0.12bn | 0.13bn | 0.13bn | 0.13bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)6 of 7 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsStrong, 31.9% a year
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $361 million last quarter, up 29% on a year ago.
- Profit: $26 million, up 74% on a year ago.
- It keeps 8 cents of each $1 of sales as operating profit, up from 6 cents a year earlier.
- Spare cash over the past 12 months: $121 million, up from $80 million.
- About the same number of shares as a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $232m |
| December 2024 | $258m |
| March 2025 | $275m |
| June 2025 | $280m |
| September 2025 | $311m |
| December 2025 | $330m |
| March 2026 | $358m |
| June 2026 | $361m |
| Quarter to | Amount |
|---|---|
| September 2024 | $14m |
| December 2024 | $13m |
| March 2025 | $14m |
| June 2025 | $15m |
| September 2025 | $18m |
| December 2025 | $21m |
| March 2026 | $21m |
| June 2026 | $26m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 24 February 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 183 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | Cut |
| Boston PartnersBoston Partners team | $803,490 | <0.1% | New |
Largest holders overall
- Capital International Investors$171mAdded
- Wasatch Advisors LP$150mCut
- BlackRock$112mAdded
- Capital World Investors$103m
- Brown Brothers Harriman$68mAdded
- Vanguard Portfolio Management$62mAdded
- Vanguard Capital Management$61mAdded
- Fuller & Thaler Asset Management$47m
- Geode Capital Management$36mAdded
- Franklin Resources$31mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
9 investors own more than 5%.
- Palumbo, RobertPassive investorat least 34.4%−8.0 pts(filed with 11 related holders)Since 31 December 2025
- Dushyant SharmaPassive investor26.7%−6.7 ptsSince 31 December 2025
- Wasatch Advisors LPPassive investor13.7%+3.9 ptsSince 31 July 2026
- Capital International InvestorsPassive investor10.9%−2.9 ptsSince 31 March 2026
- BlackRock, Inc.Passive investor6.9%Since 30 June 2026
- Capital World InvestorsPassive investor6.7%+2.2 ptsSince 31 March 2026
- Franklin Advisers, Inc.Passive investor5.0%−1.7 ptsSince 30 June 2025
- GIC Special Investments Pte LtdPassive investorat least 5.0%(filed with 1 related holder)Since 3 January 2025
- GIC Private LtdPassive investorat least 4.4%−0.7 pts(filed with 2 related holders)Since 30 June 2025
- NEXT CENTURY GROWTH INVESTORS LLCPassive investorSold down below 5%Since 13 February 2025
- Franklin Resources, Inc.Passive investorSold down below 5%Since 30 September 2025
- DRIEHAUS CAPITAL MANAGEMENT LLCPassive investorSold down below 5%Since 31 December 2025
- Invesco Ltd.Passive investorSold down below 5%Since 31 March 2026
- FRONTIER CAPITAL MANAGEMENT CO.,LLCPassive investorSold down below 5%Since 30 September 2024
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Palumbo, Robert Passive investor | at least 34.4%−8.0 pts (filed with 11 related holders) | 31 December 2025 | |
Dushyant Sharma Passive investor | 26.7%−6.7 pts | 31 December 2025 | |
Wasatch Advisors LP Passive investor | 13.7%+3.9 pts | 31 July 2026 | |
Capital International Investors Passive investor | 10.9%−2.9 pts | 31 March 2026 | |
BlackRock, Inc. Passive investor | 6.9% | 30 June 2026 | |
Capital World Investors Passive investor | 6.7%+2.2 pts | 31 March 2026 | |
Franklin Advisers, Inc. Passive investor | 5.0%−1.7 pts | 30 June 2025 | |
GIC Special Investments Pte Ltd Passive investor | at least 5.0% (filed with 1 related holder) | 3 January 2025 | |
GIC Private Ltd Passive investor | at least 4.4%−0.7 pts (filed with 2 related holders) | 30 June 2025 | |
NEXT CENTURY GROWTH INVESTORS LLC Passive investor | Sold down below 5% | 13 February 2025 | |
Franklin Resources, Inc. Passive investor | Sold down below 5% | 30 September 2025 | |
DRIEHAUS CAPITAL MANAGEMENT LLC Passive investor | Sold down below 5% | 31 December 2025 | |
Invesco Ltd. Passive investor | Sold down below 5% | 31 March 2026 | |
FRONTIER CAPITAL MANAGEMENT CO.,LLC Passive investor | Sold down below 5% | 30 September 2024 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 2 sold $7m, $7m of it under preset trading plans.
- Kalra SanjaySVP and CFOSoldunder a preset trading plan
- Date
- 5 August 2026
- Shares
- 2,909
- Price
- $40.25
- Value
- $117,101
- Kalra SanjaySVP and CFOSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 25,000
- Price
- $41.21
- Value
- $1m
- Trainor GaryDirectorSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 80,000
- Price
- $40.79
- Value
- $3m
- Trainor GaryDirectorSoldunder a preset trading plan
- Date
- 29 July 2026
- Shares
- 40,000
- Price
- $35.12
- Value
- $1m
- Trainor GaryDirectorSoldunder a preset trading plan
- Date
- 28 July 2026
- Shares
- 40,000
- Price
- $33.12
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 August 2026 | Kalra Sanjay SVP and CFO | Sold under a preset trading plan | 2,909 | $40.25 | $117,101 |
| 4 August 2026 | Kalra Sanjay SVP and CFO | Sold under a preset trading plan | 25,000 | $41.21 | $1m |
| 4 August 2026 | Trainor Gary Director | Sold under a preset trading plan | 80,000 | $40.79 | $3m |
| 29 July 2026 | Trainor Gary Director | Sold under a preset trading plan | 40,000 | $35.12 | $1m |
| 28 July 2026 | Trainor Gary Director | Sold under a preset trading plan | 40,000 | $33.12 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Feb 2026, plus the 10-Q filed 4 Aug 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.