Paycom Software (NYSE:PAYC) Hits New 1-Year High – Here’s What Happened

Paycom Software, Inc. (NYSE:PAYCGet Free Report) hit a new 52-week high on Tuesday . The company traded as high as $243.28 and last traded at $239.1360, with a volume of 30724 shares traded. The stock had previously closed at $239.10.

Analyst Ratings Changes

A number of research firms have commented on PAYC. Mizuho lifted their target price on shares of Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. UBS Group lifted their target price on shares of Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. KeyCorp lifted their target price on shares of Paycom Software from $195.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Citigroup lifted their target price on shares of Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. One equities 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 stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $214.23.

Get Our Latest Research Report on PAYC

Paycom Software Trading Up 3.0%

The stock’s fifty day simple moving average is $177.95 and its 200-day simple moving average is $146.04. The firm has a market cap of $10.97 billion, a PE ratio of 25.96, a PEG ratio of 1.32 and a beta of 0.78. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYCGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The company had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the previous year, the company earned $2.06 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Paycom Software, Inc. will post 10.65 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software’s dividend payout ratio is 15.94%.

Insider Activity at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $240.07, for a total value of $57,856.87. Following the transaction, the insider directly 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. California State Teachers Retirement System grew its holdings in Paycom Software by 9,363.4% in the second quarter. California State Teachers Retirement System now owns 5,681,993 shares of the software maker’s stock valued at $714,113,000 after purchasing an additional 5,621,951 shares during the period. BlackRock Inc. acquired a new stake in shares of Paycom Software during the second quarter worth $632,460,000. State Street Corp grew its position in shares of Paycom Software by 0.4% during the fourth 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 during the last quarter. First Trust Advisors LP grew its position in Paycom Software by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock valued at $265,419,000 after buying an additional 275,954 shares in the last quarter. Finally, Invesco Ltd. grew its position in Paycom Software by 28.2% in the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after buying an additional 343,494 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

(Get 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

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