Empowered Funds LLC 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 19,469 shares of the software maker’s stock, valued at approximately $2,447,000.
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 raised its stake in Paycom Software by 0.4% during the 4th quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock worth $345,101,000 after acquiring an additional 8,419 shares in the last quarter. First Trust Advisors LP raised its stake in Paycom Software by 19.9% during the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock worth $265,419,000 after acquiring an additional 275,954 shares in the last quarter. Invesco Ltd. raised its stake in Paycom Software by 28.2% during the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after acquiring an additional 343,494 shares in the last quarter. Finally, Reinhart Partners LLC. raised its stake in Paycom Software by 20.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after acquiring an additional 204,191 shares in the last quarter. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued 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 of this dividend is Monday, August 24th. Paycom Software’s dividend payout ratio (DPR) is 15.94%.
Insider Buying and Selling at Paycom Software
In related news, insider Shane Hadlock sold 241 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total value of $57,856.87. Following the sale, the insider owned 69,911 shares of the company’s stock, valued at $16,783,533.77. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.20% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
PAYC has been the topic of several analyst reports. UBS Group lifted their target price on shares of Paycom Software from $205.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings raised shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Mizuho upped their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Barclays upped their price target on shares of Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” 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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