Greenland Capital Management LP Invests $799,000 in Paycom Software, Inc. $PAYC

Greenland Capital Management LP purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,452 shares of the software maker’s stock, valued at approximately $799,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SouthState Corp acquired a new stake in shares of Paycom Software in the first quarter worth $27,000. S Bank Fund Management Ltd purchased a new stake in Paycom Software during the 1st quarter worth $37,000. Assetmark Inc. increased its holdings in Paycom Software by 651.9% in the 2nd quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock valued at $47,000 after purchasing an additional 176 shares in the last quarter. Brooklyn Investment Group raised its position in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the period. Finally, Putney Financial Group LLC raised its position in Paycom Software by 77.0% in the second quarter. Putney Financial Group LLC now owns 338 shares of the software maker’s stock valued at $78,000 after purchasing an additional 147 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Trading Down 0.2%

PAYC stock opened at $160.94 on Thursday. The firm has a 50 day simple moving average of $196.59 and a 200-day simple moving average of $222.86. The company has a market capitalization of $9.06 billion, a P/E ratio of 20.02, a PEG ratio of 1.76 and a beta of 0.88. Paycom Software, Inc. has a twelve month low of $156.50 and a twelve month high of $267.76.

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

Paycom Software Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Guggenheim assumed coverage on Paycom Software in a research note on Friday, September 26th. They issued a “buy” rating and a $270.00 target price for the company. BMO Capital Markets increased their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Jefferies Financial Group reduced their target price on shares of Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered their price target on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Finally, UBS Group dropped their price target on shares of Paycom Software from $285.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average price target of $225.77.

Insider Transactions at Paycom Software

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

Paycom Software Company 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.