Glenview Trust Co bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,442 shares of the software maker’s stock, valued at approximately $1,187,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. BlackRock Inc. acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $632,460,000. State Street Corp increased its stake in Paycom Software by 0.4% in the fourth quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock valued at $345,101,000 after purchasing an additional 8,419 shares during the period. First Trust Advisors LP increased its stake in Paycom Software by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock valued at $265,419,000 after purchasing an additional 275,954 shares during the period. Invesco Ltd. increased its stake in Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, Reinhart Partners LLC. increased its stake in Paycom Software by 20.1% in the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after purchasing an additional 204,191 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.
Paycom Software Stock Up 2.9%
Shares of PAYC stock traded up $6.78 on Thursday, hitting $243.03. The stock had a trading volume of 28,490 shares, compared to its average volume of 1,278,218. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.32 and a beta of 0.78. The stock’s 50 day moving average is $177.95 and its 200-day moving average is $146.04. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $244.98.
Paycom Software Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, August 24th. Paycom Software’s dividend payout ratio (DPR) is presently 15.94%.
Insider Activity
In other news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the transaction, the insider directly owned 70,152 shares in the company, valued at approximately $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.20% of the company’s stock.
Analysts Set New Price Targets
PAYC has been the topic of several analyst reports. Weiss Ratings raised shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Stifel Nicolaus upped their price target on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Barclays upped their price objective on shares of Paycom Software from $154.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Finally, BTIG Research upped their price target on shares of Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $214.23.
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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