Bank of New York Mellon Corp Buys New Stake in Paycom Software, Inc. $PAYC

Bank of New York Mellon Corp purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 341,007 shares of the software maker's stock, valued at approximately $42,858,000. Bank of New York Mellon Corp owned approximately 0.72% of Paycom Software as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Reinhart Partners LLC. grew its holdings in Paycom Software by 887.4% in the fourth quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker's stock valued at $95,351,000 after purchasing an additional 537,726 shares during the period. Contour Asset Management LLC acquired a new position in shares of Paycom Software during the 4th quarter worth approximately $60,333,000. Two Sigma Investments LP lifted its position in shares of Paycom Software by 228.7% during the 3rd quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker's stock valued at $110,756,000 after buying an additional 370,219 shares in the last quarter. Invesco Ltd. lifted its position in shares of Paycom Software by 28.2% during the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock valued at $248,551,000 after buying an additional 343,494 shares in the last quarter. Finally, River Road Asset Management LLC grew its stake in Paycom Software by 481.9% in the 4th quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker's stock valued at $62,533,000 after acquiring an additional 324,970 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Trading Up 2.5%

Shares of PAYC opened at $238.07 on Friday. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $239.92. The stock has a market cap of $10.73 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.31 and a beta of 0.76. The firm's fifty day moving average is $168.95 and its two-hundred day moving average is $142.82. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $2.06 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Paycom Software, Inc. will post 10.48 earnings per share 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. Stockholders of record on Monday, August 24th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 24th. Paycom Software's payout ratio is currently 15.94%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAYC. Mizuho upped their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Cantor Fitzgerald lifted their target price on shares of Paycom Software from $135.00 to $195.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $140.00 to $264.00 and gave the stock a "neutral" rating in a research note on Tuesday. 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. Finally, Zacks Research raised shares of Paycom Software from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $208.08.

About Paycom Software

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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