Equity Investment Corp purchased a new stake in Paycom Software, Inc. (NYSE:PAYC – Free 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 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
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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