Dakota Wealth Management Increases Stock Position in Paycom Software, Inc. $PAYC

Key Points

• Dakota Wealth Management increased its stake in Paycom Software, Inc. by 16.6%, owning 25,869 shares valued at approximately $5.99 million.
• Several hedge funds have recently acquired positions in Paycom, with institutional investors holding 87.77% of the company's stock.
• After recently reporting earnings that exceeded estimates, analysts have set a consensus target price of $239.42 for Paycom, with ratings reflecting a mix of buy and hold.

Dakota Wealth Management raised its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,869 shares of the software maker's stock after acquiring an additional 3,676 shares during the period. Dakota Wealth Management's holdings in Paycom Software were worth $5,986,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PAYC. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software during the 1st quarter valued at about $27,000. SouthState Corp acquired a new stake in Paycom Software during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its stake in Paycom Software by 112.3% during the first quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after purchasing an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock valued at $33,000 after buying an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in Paycom Software in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAYC. KeyCorp upped their price target on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Barclays lifted their target price on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. TD Cowen upgraded Paycom Software from a "hold" rating to a "buy" rating and increased their price objective for the company from $246.00 to $258.00 in a research report on Monday. BMO Capital Markets raised their target price on shares of Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Finally, UBS Group lowered their price target on Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $239.42.

Paycom Software Stock Down 1.1%

PAYC stock opened at $215.13 on Friday. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.39 and a beta of 0.81. Paycom Software, Inc. has a 12 month low of $158.03 and a 12 month high of $267.76. The firm has a 50 day moving average of $225.28 and a two-hundred day moving average of $229.62.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same period last year, the company earned $1.62 earnings per share. The business's revenue was up 10.5% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is 20.30%.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares of the company's stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.90% of the company's stock.

Paycom Software Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

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