85,962 Shares in Paycom Software, Inc. $PAYC Acquired by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 85,962 shares of the software maker's stock, valued at approximately $10,803,000. Corient Private Wealth LP owned approximately 0.19% of Paycom Software as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. BlackRock Inc. acquired a new position in shares of Paycom Software in the second quarter worth $632,460,000. State Street Corp raised its stake 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 acquiring an additional 8,419 shares in the last quarter. First Trust Advisors LP raised its stake 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 acquiring an additional 275,954 shares in the last quarter. Invesco Ltd. boosted its holdings in 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 during the period. Finally, Reinhart Partners LLC. grew 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 purchasing an additional 204,191 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 0.8%

Shares of NYSE PAYC opened at $239.00 on Friday. The business has a 50-day moving average of $171.24 and a two-hundred day moving average of $143.49. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.76. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $242.50. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYC - Get Free Report) last released 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 return on equity of 37.06% and a net margin of 22.78%.The business had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the prior year, the business posted $2.06 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts forecast that Paycom Software, Inc. will post 10.65 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on PAYC shares. Stifel Nicolaus upped their price target on Paycom Software from $120.00 to $200.00 and gave the stock a "hold" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $140.00 to $264.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 25th. Barclays upped their target price on shares of Paycom Software from $154.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Guggenheim raised their target price on shares of Paycom Software from $180.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, KeyCorp lifted their price target on shares of Paycom Software from $195.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. 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's stock. According to MarketBeat, Paycom Software currently has a consensus rating of "Hold" and a consensus price target of $208.08.

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.

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