Inspire Investing LLC Purchases New Holdings in Paycom Software, Inc. $PAYC

Key Points

• Inspire Investing LLC acquired a new stake of 10,080 shares in Paycom Software, Inc. for approximately $2.2 million in the first quarter.
• Several institutional investors have also increased their holdings in Paycom, with a significant 87.77% of the stock now owned by such entities.
• Analysts have adjusted their price targets for Paycom, with Barclays raising it to $250 and KeyCorp to $290, reflecting positive sentiment among market experts.

Inspire Investing LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 10,080 shares of the software maker's stock, valued at approximately $2,202,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAYC. von Borstel & Associates Inc. purchased a new position in Paycom Software in the 1st quarter valued at about $27,000. SouthState Corp purchased a new position in Paycom Software in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its stake in Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock valued at $30,000 after buying an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in 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 in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Paycom Software in the 1st quarter valued at about $35,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAYC has been the topic of a number of research reports. Barclays raised their price target on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. KeyCorp raised their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald started coverage on shares of Paycom Software in a report on Thursday, August 14th. They issued a "neutral" rating and a $230.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $234.36.

Paycom Software Trading Up 2.6%

PAYC stock opened at $226.64 on Friday. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.43 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 $227.27 and a two-hundred day moving average of $229.53.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The company had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. Paycom Software's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. As a group, equities analysts forecast 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, September 8th. Stockholders of record on Monday, August 25th were issued a dividend of $0.375 per share. The ex-dividend date was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is currently 20.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.