Empowered Funds LLC Acquires 17,826 Shares of Paycom Software, Inc. $PAYC

Key Points

• Empowered Funds LLC increased its Paycom Software stake by 592.8% in the first quarter, acquiring 17,826 additional shares for a total of 20,833 shares valued at approximately $2.53 million. Institutional investors collectively own 87.77% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $159.75, supported by several recent target increases, although some firms remain neutral.
• Paycom reported quarterly earnings of $2.78 per share and revenue of $531.2 million, beating estimates and marking 9.8% year-over-year revenue growth. The company also declared a quarterly dividend of $0.375 per share, representing a 0.9% yield.

Empowered Funds LLC increased its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 592.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,833 shares of the software maker's stock after acquiring an additional 17,826 shares during the period. Empowered Funds LLC's holdings in Paycom Software were worth $2,532,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its holdings in Paycom Software by 4.0% during the third quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker's stock worth $338,000 after buying an additional 63 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its position in Paycom Software by 0.8% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker's stock valued at $1,699,000 after buying an additional 86 shares during the last quarter. Lido Advisors LLC lifted its stake in Paycom Software by 1.4% during the 4th quarter. Lido Advisors LLC now owns 6,286 shares of the software maker's stock valued at $1,081,000 after acquiring an additional 87 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Paycom Software by 2.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker's stock valued at $652,000 after acquiring an additional 88 shares in the last quarter. Finally, Evoke Wealth LLC boosted its holdings in Paycom Software by 2.8% during the 4th quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker's stock worth $531,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Paycom Software from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 16th. Citigroup boosted their price target on shares of Paycom Software from $120.00 to $136.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. 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. UBS Group dropped their target price on shares of Paycom Software from $210.00 to $183.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Finally, BTIG Research lifted their target price on shares of Paycom Software from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.75.

Paycom Software Stock Performance

Shares of PAYC opened at $174.99 on Thursday. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $248.95. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The stock's fifty day moving average price is $141.40 and its two-hundred day moving average price is $133.66. The firm has a market cap of $8.33 billion, a PE ratio of 20.23, a PEG ratio of 1.49 and a beta of 0.76.

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 return on equity of 28.34% and a net margin of 22.44%.The company had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the prior year, the company earned $2.06 EPS. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software, Inc. will post 9.37 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be paid a $0.375 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software's dividend payout ratio (DPR) is presently 17.34%.

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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