Crossmark Global Holdings Inc. Reduces Stock Position in Paycom Software, Inc. $PAYC

Key Points

• Crossmark Global Holdings trimmed its Paycom position by 90% in Q3, selling 15,203 shares and retaining 1,686 shares worth about $351,000 at quarter-end.
• Several large institutions materially increased stakes—most notably Allianz, Vanguard, State Street and Baillie Gifford—leaving institutional ownership at approximately 87.77% of the stock.
• Analyst sentiment is mixed but leans to neutral: the consensus rating is Hold with a consensus price target of $170.71, while some firms cut targets (BMO, Mizuho) and others raised or maintained theirs (Barclays, Cantor Fitzgerald), and Weiss downgraded to a sell.

Crossmark Global Holdings Inc. trimmed its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 90.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,686 shares of the software maker's stock after selling 15,203 shares during the period. Crossmark Global Holdings Inc.'s holdings in Paycom Software were worth $351,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PAYC. Allianz Asset Management GmbH raised its position in shares of Paycom Software by 10,106.6% in the third quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker's stock valued at $101,355,000 after buying an additional 482,186 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Paycom Software by 3.2% during the third quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker's stock valued at $1,207,792,000 after buying an additional 179,218 shares during the period. State Street Corp boosted its position in Paycom Software by 8.4% during the second quarter. State Street Corp now owns 2,097,910 shares of the software maker's stock worth $485,456,000 after acquiring an additional 162,477 shares during the last quarter. Baillie Gifford & Co. boosted its position in Paycom Software by 10.3% during the third quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker's stock worth $355,641,000 after acquiring an additional 158,967 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Paycom Software by 5,691.0% in the 2nd quarter. SG Americas Securities LLC now owns 155,489 shares of the software maker's stock worth $35,980,000 after acquiring an additional 152,804 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAYC has been the subject of several analyst reports. BMO Capital Markets cut their price target on Paycom Software from $175.00 to $137.00 and set a "market perform" rating for the company in a report on Thursday, February 12th. Mizuho lowered their price objective on Paycom Software from $180.00 to $120.00 and set a "neutral" rating for the company in a research report on Thursday, February 12th. Barclays upped their target price on Paycom Software from $140.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, March 6th. Cantor Fitzgerald increased their target price on Paycom Software from $115.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, March 6th. Finally, Weiss Ratings lowered Paycom Software from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $170.71.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $130.36 on Thursday. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $267.76. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.39 and a beta of 0.80. The business has a 50-day moving average of $137.47 and a 200-day moving average of $171.34.

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

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, March 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.2%. Paycom Software's dividend payout ratio (DPR) is currently 18.54%.

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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