Corient Private Wealth LP Invests $10.80 Million in Paycom Software, Inc. $PAYC

Corient Private Wealth LP 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 85,962 shares of the software maker's stock, valued at approximately $10,803,000. Corient Private Wealth LP owned 0.19% 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 stake in shares of Paycom Software in the second quarter valued at about $632,460,000. State Street Corp lifted its holdings in shares of Paycom Software by 0.4% in the fourth quarter. State Street Corp now owns 2,165,546 shares of the software maker's stock valued at $345,101,000 after purchasing an additional 8,419 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Paycom Software by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker's stock valued at $265,419,000 after purchasing an additional 275,954 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock valued at $248,551,000 after purchasing an additional 343,494 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its stake in shares of Paycom Software by 20.1% during the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock valued at $153,320,000 after buying an additional 204,191 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BTIG Research upped their price target on shares of Paycom Software from $160.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Paycom Software from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. TD Cowen increased their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. UBS Group upped their target price on shares of Paycom Software from $205.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Cantor Fitzgerald upped their target price on shares of Paycom Software from $135.00 to $195.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. One 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $214.23.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $6.78 during trading hours on Thursday, reaching $243.03. The company's stock had a trading volume of 28,490 shares, compared to its average volume of 1,278,218. The company's 50 day simple moving average is $177.95 and its 200 day simple moving average is $146.04. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $244.98. The stock has a market cap of $10.95 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping 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 business had revenue of $531.20 million for the quarter, compared to analysts' expectations of $513.12 million. During the same quarter last year, the company earned $2.06 EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts expect that Paycom Software, Inc. will post 10.65 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.6%. Paycom Software's dividend payout ratio (DPR) is presently 15.94%.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company's stock, valued at approximately $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.20% of the company's stock.

Paycom Software Company Profile

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.