19,469 Shares in Paycom Software, Inc. $PAYC Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 19,469 Paycom shares worth approximately $2.45 million during the second quarter. Institutional investors and hedge funds collectively own 87.77% of PAYC.
• Analysts raised several price targets following Paycom’s strong quarterly results, including Guggenheim to $225 and KeyCorp to $270. Despite these increases, the consensus rating remains “Hold,” with an average target price of $214.23.
• Paycom beat quarterly expectations with EPS of $2.78 versus $2.38 expected and revenue of $531.2 million, up 9.8% year over year. The company also announced a quarterly dividend of $0.375 per share, equivalent to a 0.6% annual yield.

Empowered Funds LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 19,469 shares of the software maker's stock, valued at approximately $2,447,000.

A number of other hedge funds have also made changes to their positions in PAYC. Fluent Financial LLC purchased a new stake in Paycom Software in the 2nd quarter valued at approximately $2,439,000. Principal Financial Group Inc. grew its holdings in Paycom Software by 290.5% in the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker's stock valued at $29,627,000 after purchasing an additional 181,346 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Paycom Software by 1,151.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 170,854 shares of the software maker's stock valued at $27,227,000 after buying an additional 157,201 shares during the period. Janus Henderson Group PLC raised its position in shares of Paycom Software by 467.2% in the 1st quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker's stock worth $2,819,000 after buying an additional 19,110 shares during the period. Finally, Reinhart Partners LLC. raised its position in shares of Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock worth $153,320,000 after buying an additional 204,191 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Analysts Set New Price Targets

PAYC has been the subject of a number of research reports. Guggenheim boosted their price target on Paycom Software from $180.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. KeyCorp increased their price objective 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. Citigroup raised their target price on shares of Paycom Software from $136.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. BTIG Research lifted their target price on shares of Paycom Software from $160.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Mizuho upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus target price of $214.23.

Insider Activity

In related news, insider Terrell Shane Hadlock sold 241 shares of Paycom Software 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 completion of the sale, the insider owned 69,911 shares in the company, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.20% of the company's stock.

Paycom Software Price Performance

PAYC opened at $235.49 on Thursday. The company has a fifty day simple moving average of $177.95 and a 200 day simple moving average of $146.04. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.32 and a beta of 0.78. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $243.28. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. The firm had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. Equities research analysts expect that Paycom Software, Inc. will post 10.65 EPS for the current fiscal 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 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 of this dividend is Monday, August 24th. Paycom Software's dividend payout ratio is presently 15.94%.

About Paycom Software

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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