Northwestern Mutual Wealth Management Co. raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 1,151.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 170,854 shares of the software maker’s stock after buying an additional 157,201 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Paycom Software were worth $27,227,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of PAYC. Allianz Asset Management GmbH increased its position in shares of Paycom Software by 10,106.6% during the third quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock valued at $101,355,000 after buying an additional 482,186 shares during the period. Two Sigma Investments LP increased its position in shares of Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after buying an additional 370,219 shares during the period. Woodline Partners LP bought a new stake in shares of Paycom Software during the third quarter valued at about $58,452,000. Robeco Institutional Asset Management B.V. increased its position in shares of Paycom Software by 230.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 341,286 shares of the software maker’s stock valued at $54,387,000 after buying an additional 238,155 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in shares of Paycom Software during the third quarter valued at about $42,414,000. 87.77% of the stock is currently owned by institutional investors.
Paycom Software Stock Performance
Shares of NYSE PAYC opened at $141.29 on Wednesday. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.22 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $267.76. The stock’s 50-day moving average is $126.80 and its 200 day moving average is $142.68.
Paycom Software Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, May 26th. Paycom Software’s payout ratio is 17.34%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PAYC shares. BMO Capital Markets lifted their price target on Paycom Software from $137.00 to $145.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. KeyCorp lowered their target price on shares of Paycom Software from $250.00 to $195.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Barclays dropped their target price on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. BTIG Research increased their price target on shares of Paycom Software from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, TD Cowen raised their price objective on shares of Paycom Software from $148.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.67.
Check Out Our Latest Analysis on PAYC
About Paycom Software
Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.
The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.
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