Canada Pension Plan Investment Board bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 83,100 shares of the software maker's stock, valued at approximately $10,444,000. Canada Pension Plan Investment Board owned 0.18% of Paycom Software at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Paycom Software during the 2nd quarter worth approximately $632,460,000. State Street Corp raised its stake in Paycom Software by 0.4% during the 4th 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 in the last quarter. First Trust Advisors LP raised its stake in Paycom Software by 19.9% during the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker's stock worth $265,419,000 after acquiring an additional 275,954 shares in the last quarter. Invesco Ltd. raised its stake in Paycom Software by 28.2% during the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock worth $248,551,000 after acquiring an additional 343,494 shares in the last quarter. Finally, Reinhart Partners LLC. raised its stake in Paycom Software by 20.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock worth $153,320,000 after acquiring an additional 204,191 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.
Paycom Software Stock Up 2.9%
Shares of PAYC stock traded up $6.78 on Thursday, hitting $243.03. The stock had a trading volume of 28,490 shares, compared to its average volume of 1,278,218. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $244.98. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.32 and a beta of 0.78. The stock's 50 day moving average is $177.95 and its 200-day moving average is $146.04.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 EPS 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 firm had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the firm posted $2.06 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Paycom Software, Inc. will post 10.65 earnings per share for the current year.
Paycom Software Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders 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 is Monday, August 24th. Paycom Software's dividend payout ratio (DPR) is presently 15.94%.
Insider Buying and Selling at Paycom Software
In related news, insider Shane Hadlock sold 241 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total value of $57,856.87. Following the sale, the insider 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.20% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have commented on PAYC. TD Cowen lifted their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Paycom Software from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. BTIG Research boosted their price objective on shares of Paycom Software from $160.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Cantor Fitzgerald upped their price target on shares of Paycom Software from $135.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, BMO Capital Markets upped their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $214.23.
Get Our Latest Report on PAYC
Paycom Software Company Profile
(
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.
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