2,739 Shares in Paycom Software, Inc. $PAYC Acquired by GK Wealth Management LLC

Key Points

• GK Wealth Management LLC acquired 2,739 shares of Paycom Software, valued at approximately $599,000, during the first quarter, indicating ongoing interest from institutional investors in the stock.
• Paycom Software reported robust earnings with $2.06 EPS, exceeding estimates, and had a 10.5% increase in revenue year-over-year, affirming its strong market position and performance.
• The company announced a quarterly dividend of $0.375, resulting in an annualized dividend yield of 0.7%, further attracting investor interest with its steady income generation.

GK Wealth Management LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,739 shares of the software maker's stock, valued at approximately $599,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in Paycom Software in the first quarter worth approximately $27,000. SouthState Corp bought a new position in Paycom Software in the first quarter worth approximately $27,000. Golden State Wealth Management LLC grew its stake in Paycom Software by 112.3% in the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after purchasing an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Paycom Software in the first quarter worth approximately $35,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Price Performance

NYSE PAYC opened at $221.16 on Thursday. The stock's fifty day moving average price is $227.39 and its 200 day moving average price is $229.48. Paycom Software, Inc. has a 1 year low of $158.03 and a 1 year high of $267.76. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.44 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same period in the prior year, the firm earned $1.62 EPS. The firm's revenue was up 10.5% on a year-over-year basis. Research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently issued reports on PAYC shares. KeyCorp increased their price objective on Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Cantor Fitzgerald initiated coverage on Paycom Software in a report on Thursday, August 14th. They set a "neutral" rating and a $230.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. BMO Capital Markets increased their price objective on Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, Barclays increased their price objective on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of "Hold" and a consensus price target of $234.36.

Paycom Software Company Profile

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.

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