United Asset Strategies Inc. Takes $877,000 Position in Paycom Software, Inc. $PAYC

United Asset Strategies Inc. bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,792 shares of the software maker’s stock, valued at approximately $877,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. boosted its position in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after purchasing an additional 1,505,990 shares during the period. Invesco Ltd. boosted its holdings in shares of Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock valued at $269,398,000 after acquiring an additional 58,176 shares during the period. Northern Trust Corp grew its position in shares of Paycom Software by 2.3% during the first quarter. Northern Trust Corp now owns 740,385 shares of the software maker’s stock worth $161,759,000 after acquiring an additional 16,369 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Paycom Software by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker’s stock worth $138,435,000 after acquiring an additional 69,884 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in Paycom Software in the 1st quarter valued at about $114,440,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.90% of the stock is currently owned by insiders.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $166.83 on Thursday. The company has a market capitalization of $9.39 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88. The stock has a fifty day moving average of $202.58 and a 200-day moving average of $225.10. Paycom Software, Inc. has a one year low of $156.50 and a one year high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The company had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. During the same period last year, the firm earned $1.67 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Paycom Software has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. Paycom Software’s dividend payout ratio is currently 18.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. KeyCorp reduced their price target on Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Guggenheim started coverage on Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Mizuho decreased their price objective on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average price target of $225.77.

Paycom Software Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.