Harbor Capital Advisors Inc. Makes New $1.91 Million Investment in Paycom Software, Inc. $PAYC

Key Points

• Harbor Capital Advisors initiated a new stake in Paycom by purchasing 11,991 shares during Q4, valued at about $1.91 million.
• Paycom slightly beat Q4 estimates with $2.45 EPS and $544.3M revenue (up 10.2% YoY), and the company has a market cap of ~$6.7 billion and a P/E of 15.25.
• Analyst sentiment is mixed: the consensus rating is "Hold" (5 Buy, 11 Hold, 1 Sell) with a consensus price target of $170.71, amid several recent price-target cuts.

Harbor Capital Advisors Inc. bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,991 shares of the software maker's stock, valued at approximately $1,911,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. True Wealth Design LLC increased its holdings in Paycom Software by 946.7% during the 4th quarter. True Wealth Design LLC now owns 157 shares of the software maker's stock valued at $25,000 after acquiring an additional 142 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Paycom Software in the third quarter valued at about $29,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Paycom Software in the second quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Paycom Software in the third quarter valued at approximately $31,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research reports. Weiss Ratings downgraded Paycom Software from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, February 3rd. Jefferies Financial Group lowered their target price on Paycom Software from $190.00 to $130.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Zacks Research raised Paycom Software from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. 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. Finally, BTIG Research decreased their price objective on Paycom Software from $195.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Paycom Software has a consensus rating of "Hold" and a consensus price target of $170.71.

Paycom Software Stock Down 0.2%

Shares of PAYC opened at $123.37 on Friday. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $267.76. The company's fifty day moving average is $126.96 and its two-hundred day moving average is $159.36. The firm has a market cap of $6.70 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.79.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.01. The business had revenue of $544.30 million during 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 business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 EPS. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, March 9th. This represents a $1.50 annualized dividend and a yield of 1.2%. Paycom Software's dividend payout ratio is currently 18.54%.

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.

Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.