Daiwa Securities Group Inc. boosted its holdings in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 60.1% in the fourth quarter, Holdings Channel reports. The firm owned 18,671 shares of the software maker’s stock after purchasing an additional 7,008 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Paycom Software were worth $2,976,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Mackenzie Financial Corp grew its position in Paycom Software by 4.0% in the third quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock valued at $338,000 after purchasing an additional 63 shares in the last quarter. Davis Investment Partners LLC grew its position in Paycom Software by 2.3% in the fourth quarter. Davis Investment Partners LLC now owns 2,988 shares of the software maker’s stock valued at $455,000 after purchasing an additional 68 shares in the last quarter. Compound Planning Inc. grew its position in Paycom Software by 2.9% in the third quarter. Compound Planning Inc. now owns 2,899 shares of the software maker’s stock valued at $603,000 after purchasing an additional 83 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its position in Paycom Software by 0.8% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock valued at $1,699,000 after purchasing an additional 86 shares in the last quarter. Finally, Lido Advisors LLC grew its position in Paycom Software by 1.4% in the fourth quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.
Wall Street Analysts Forecast Growth
PAYC has been the subject of a number of analyst reports. Guggenheim decreased their target price on shares of Paycom Software from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. TD Cowen raised their target price 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. Citigroup raised their target price on shares of Paycom Software from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Jefferies Financial Group decreased their target price on shares of Paycom Software from $190.00 to $130.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $159.67.
Paycom Software Stock Performance
Shares of PAYC opened at $136.17 on Wednesday. The firm has a 50-day moving average of $130.52 and a 200-day moving average of $139.13. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $258.59. The company has a market cap of $6.49 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.79. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08.
Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The company had revenue of $571.80 million during the quarter, compared to the consensus estimate of $564.37 million. During the same quarter last year, the firm posted $2.80 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Paycom Software, Inc. will post 9.16 earnings per share for the current year.
Paycom Software Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Paycom Software’s dividend payout ratio (DPR) is 17.34%.
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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