Danske Bank A S Invests $13.59 Million in Paycom Software, Inc. $PAYC

Key Points

• Danske Bank A/S acquired 108,105 Paycom Software shares worth approximately $13.59 million during the second quarter, representing about 0.24% of the company. Institutional investors collectively own 87.77% of PAYC.
• Paycom reported quarterly earnings of $2.78 per share, beating estimates of $2.38, while revenue rose 9.8% year over year to $531.2 million. The company also declared a quarterly dividend of $0.375 per share, yielding approximately 0.7% annually.
• Analyst sentiment remains mixed, with one Strong Buy, five Buy, and nine Hold ratings; the consensus price target is $204.69. Shares opened at $225.72, near the stock’s 52-week high of $234.60.

Danske Bank A S purchased a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 108,105 shares of the software maker's stock, valued at approximately $13,587,000. Danske Bank A S owned approximately 0.24% of Paycom Software as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAYC. Equity Investment Corp bought a new stake in shares of Paycom Software in the 2nd quarter worth about $37,085,000. Meeder Advisory Services Inc. bought a new position in shares of Paycom Software during the second quarter worth about $283,000. MidFirst Bank acquired a new position in Paycom Software in the second quarter worth about $633,000. BlackRock Inc. acquired a new position in Paycom Software in the second quarter worth about $632,460,000. Finally, Deutsche Bank AG bought a new stake in Paycom Software in the second quarter valued at about $1,268,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Trading Up 1.6%

Shares of PAYC stock opened at $225.72 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The stock has a 50-day simple moving average of $158.68 and a 200 day simple moving average of $139.22. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $234.60. The stock has a market capitalization of $10.17 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.25 and a beta of 0.76.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.06 EPS. On average, sell-side analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. Paycom Software's dividend payout ratio is currently 15.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group increased their target price on Paycom Software from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Guggenheim boosted their price target on Paycom Software from $180.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Barclays upped their price target on Paycom Software from $154.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. BTIG Research lifted their price objective on shares of Paycom Software from $160.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, KeyCorp lifted their price objective on shares of Paycom Software from $195.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $204.69.

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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