Kodai Capital Management LP Invests $3.57 Million in Paycom Software, Inc. $PAYC

Key Points

• Kodai Capital Management LP acquired 16,318 shares of Paycom Software, valued at approximately $3.57 million, as detailed in their recent SEC filing.
• A variety of institutional investors, including Sylebra Capital LLC and Baillie Gifford & Co., have significantly increased their positions in Paycom Software, with institutional ownership now at 87.77%.
• Paycom Software reported earnings of $2.06 per share for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.375 per share, reflecting a 0.7% yield.

Kodai Capital Management LP bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,318 shares of the software maker's stock, valued at approximately $3,565,000.

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

Paycom Software Stock Up 0.4%

PAYC traded up $0.92 during trading hours on Wednesday, hitting $220.92. The stock had a trading volume of 785,354 shares, compared to its average volume of 626,947. Paycom Software, Inc. has a 1 year low of $153.08 and a 1 year high of $267.76. The company's fifty day simple moving average is $228.04 and its 200 day simple moving average is $229.20. The stock has a market cap of $12.79 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping 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 business had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. During the same quarter last year, the company earned $1.62 EPS. The firm's revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given a $0.375 dividend. The ex-dividend date is Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software's payout ratio is presently 20.30%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total value of $374,940.00. Following the completion of the sale, the insider owned 27,233 shares in the company, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PAYC shares. Piper Sandler increased their price target on Paycom Software from $224.00 to $246.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. BMO Capital Markets increased their target price on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Cantor Fitzgerald initiated coverage on Paycom Software in a report on Thursday, August 14th. They issued a "neutral" rating and a $230.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. One research analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $234.36.

About Paycom Software

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.