Weiss Asset Management LP bought a new stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,176 shares of the software maker’s stock, valued at approximately $4,397,000. Weiss Asset Management LP owned approximately 0.08% of Paycom Software as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PAYC. Reinhart Partners LLC. boosted its position in shares of Paycom Software by 887.4% during the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock valued at $95,351,000 after acquiring an additional 537,726 shares during the last quarter. Contour Asset Management LLC acquired a new stake in Paycom Software during the fourth quarter worth about $60,333,000. Two Sigma Investments LP raised its stake in Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock worth $110,756,000 after purchasing an additional 370,219 shares during the period. Invesco Ltd. raised its stake in Paycom Software by 28.2% during the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in Paycom Software by 481.9% in the 4th quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock valued at $62,533,000 after purchasing an additional 324,970 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Paycom Software from $210.00 to $183.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. TD Cowen decreased their price objective on Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Weiss Ratings upgraded Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Mizuho raised their target price on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.75.
Paycom Software Stock Performance
Shares of PAYC stock opened at $145.71 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $248.95. The stock has a market capitalization of $6.94 billion, a PE ratio of 16.84, a P/E/G ratio of 1.23 and a beta of 0.80. The firm has a 50 day moving average of $136.71 and a two-hundred day moving average of $133.12.
Paycom Software (NYSE:PAYC – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. The business had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 earnings per share. On average, research analysts predict that Paycom Software, Inc. will post 9.37 EPS for the current fiscal year.
Paycom Software Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.50 dividend on an annualized basis and a yield of 1.0%. Paycom Software’s dividend payout ratio (DPR) is currently 17.34%.
Paycom Software Profile
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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