295,071 Shares in Paycom Software, Inc. $PAYC Bought by Equity Investment Corp

Equity Investment Corp purchased a new stake in Paycom Software, Inc. (NYSE:PAYCFree Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 295,071 shares of the software maker’s stock, valued at approximately $37,085,000.

A number of other large investors have also made changes to their positions in PAYC. Brighton Jones LLC acquired a new position in Paycom Software in the 4th quarter valued at $638,000. AQR Capital Management LLC grew its stake in Paycom Software by 23.7% during the first quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock worth $4,136,000 after buying an additional 3,674 shares during the period. United Services Automobile Association acquired a new stake in Paycom Software in the 1st quarter valued at $215,000. Empowered Funds LLC grew its stake in shares of Paycom Software by 22.8% in the first quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock valued at $1,739,000 after buying an additional 1,480 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in Paycom Software by 220.8% during the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock worth $861,000 after acquiring an additional 2,712 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 0.8%

Paycom Software stock opened at $215.92 on Wednesday. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $234.60. The firm has a market capitalization of $9.73 billion, a PE ratio of 22.95, a PEG ratio of 1.23 and a beta of 0.75. The business’s 50-day simple moving average is $155.12 and its 200-day simple moving average is $137.96. 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 (NYSE:PAYCGet Free Report) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. The business had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $2.06 earnings per share. Equities research analysts forecast that Paycom Software, Inc. will post 10.48 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s payout ratio is 15.94%.

Wall Street Analyst Weigh In

PAYC has been the topic of several analyst reports. KeyCorp lifted their price objective on Paycom Software from $195.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Stifel Nicolaus increased their price target on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Mizuho boosted their target price 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. Guggenheim increased their price target on Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and a consensus target price of $204.69.

Check Out Our Latest Stock Report on PAYC

Paycom Software Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYCFree Report).

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.