Oppenheimer Asset Management Inc. purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 21,365 shares of the software maker’s stock, valued at approximately $2,685,000.
Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp lifted its stake in shares of Paycom Software by 4.0% during the third quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock valued at $338,000 after buying an additional 63 shares during the period. Boyd Watterson Asset Management LLC OH grew its stake in Paycom Software by 0.8% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock worth $1,699,000 after acquiring an additional 86 shares during the period. Lido Advisors LLC grew its stake in Paycom Software by 1.4% in the 4th quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock worth $1,081,000 after acquiring an additional 87 shares during the period. Janus Henderson Group PLC raised its holdings in Paycom Software by 2.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock valued at $652,000 after acquiring an additional 88 shares during the last quarter. Finally, Evoke Wealth LLC raised its holdings in Paycom Software by 2.8% in the 4th quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock valued at $531,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on PAYC. BMO Capital Markets raised their price objective on Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Guggenheim increased their target price on Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. KeyCorp raised their price target on Paycom Software from $195.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald lifted their price target on Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $204.69.
Paycom Software Stock Down 2.7%
Shares of PAYC opened at $217.60 on Friday. The firm has a market cap of $9.81 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.76. The company’s fifty day moving average is $151.95 and its two-hundred day moving average is $136.99. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $234.60. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.
Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 EPS. Analysts forecast that Paycom Software, Inc. will post 10.48 earnings per share for the current year.
Paycom Software Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s payout ratio is 15.94%.
Paycom Software Company 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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