Allspring Global Investments Holdings LLC Has $391,000 Stake in Paycom Software, Inc. $PAYC

Key Points

• Allspring Global Investments trimmed its Paycom stake by 78.5% in Q4, selling 9,370 shares and leaving 2,566 shares worth about $391,000.
• Multiple analysts have cut price targets on PAYC this month, leaving a MarketBeat consensus rating of "Hold" and a consensus target price of $170.71.
• Paycom slightly beat quarterly estimates (EPS $2.45 vs. $2.44; revenue $544.3M vs. $542.8M), reported 10.2% revenue growth year-over-year, and declared a $0.375 quarterly dividend (1.3% yield).

Allspring Global Investments Holdings LLC trimmed its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 78.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,566 shares of the software maker's stock after selling 9,370 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Paycom Software were worth $391,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. True Wealth Design LLC raised its stake in shares of Paycom Software by 946.7% in the fourth quarter. True Wealth Design LLC now owns 157 shares of the software maker's stock valued at $25,000 after purchasing an additional 142 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Paycom Software in the third quarter valued at $29,000. CYBER HORNET ETFs LLC acquired a new position in shares of Paycom Software in the second quarter valued at $29,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Paycom Software in the third quarter valued at $31,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Paycom Software in the second quarter valued at $33,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PAYC shares. BTIG Research cut their target price on Paycom Software from $195.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Mizuho cut their price objective on Paycom Software from $180.00 to $120.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Guggenheim cut their price objective on Paycom Software from $210.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, February 12th. TD Cowen cut their price objective on Paycom Software from $200.00 to $184.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Finally, Citigroup cut their price objective on Paycom Software from $185.00 to $128.00 and set a "neutral" rating for the company in a report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Paycom Software currently has a consensus rating of "Hold" and a consensus target price of $170.71.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $113.61 on Friday. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $267.76. The firm has a market cap of $5.42 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79. The business has a fifty day moving average of $124.86 and a 200-day moving average of $155.91.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.01. The company had revenue of $544.30 million during the quarter, compared to analyst estimates of $542.79 million. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $2.32 earnings per share. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were issued a $0.375 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.50 annualized dividend and a yield of 1.3%. Paycom Software's dividend payout ratio (DPR) is currently 18.54%.

Paycom Software 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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