Trexquant Investment LP Makes New Investment in Paycom Software, Inc. $PAYC

Key Points

• Trexquant Investment LP acquired 24,420 shares of Paycom Software, valued at approximately $5.3 million, during the first quarter.
• Analysts have raised their price targets for PAYC, with Piper Sandler setting a new target of $246 and Barclays at $250, reflecting positive sentiment around the stock.
• Paycom recently declared a quarterly dividend of $0.375 per share, which signifies a yield of 0.7% and a payout ratio of 20.30%.

Trexquant Investment LP purchased a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,420 shares of the software maker's stock, valued at approximately $5,335,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. Sylebra Capital LLC raised its holdings in Paycom Software by 63.8% during the 4th quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after buying an additional 1,252,617 shares during the period. Baillie Gifford & Co. raised its holdings in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock worth $346,180,000 after buying an additional 1,505,990 shares during the period. Invesco Ltd. raised its holdings in Paycom Software by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock worth $269,398,000 after buying an additional 58,176 shares during the period. Northern Trust Corp raised its holdings in Paycom Software by 2.3% during the 1st quarter. Northern Trust Corp now owns 740,385 shares of the software maker's stock worth $161,759,000 after buying an additional 16,369 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Paycom Software by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 502,345 shares of the software maker's stock worth $109,752,000 after buying an additional 4,272 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PAYC. Piper Sandler boosted their price objective on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Barclays lifted their target price on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. KeyCorp lifted their target price on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Stifel Nicolaus lifted their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on Paycom Software in a research note on Thursday, August 14th. They set a "neutral" rating and a $230.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus target price of $234.36.

Paycom Software Stock Performance

Shares of NYSE PAYC traded up $0.92 during trading hours on Wednesday, hitting $220.92. The stock had a trading volume of 785,397 shares, compared to its average volume of 683,704. The company has a market capitalization of $12.79 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.48 and a beta of 0.81. The firm's 50-day moving average price is $228.01 and its two-hundred day moving average price is $229.14. Paycom Software, Inc. has a 52 week low of $153.08 and a 52 week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to analysts' expectations of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. As a group, analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. Paycom Software's payout ratio is presently 20.30%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 10.90% of the company's stock.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.