Lafayette Investments Inc. Buys 12,565 Shares of Paycom Software, Inc. $PAYC

Key Points

• Lafayette Investments Inc. increased its Paycom Software stake by 38.4% in the first quarter, buying 12,565 shares and bringing its total holding to 45,308 shares worth about $5.5 million.
• Several other institutional investors also added modestly to their Paycom positions, and hedge funds and institutions collectively own 87.77% of the company’s stock.
• Analysts remain mixed on Paycom: the consensus rating is Hold with a $159.25 price target, while the company recently beat earnings and revenue estimates in its latest quarterly report.

Lafayette Investments Inc. grew its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 38.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,308 shares of the software maker's stock after purchasing an additional 12,565 shares during the period. Paycom Software makes up approximately 1.1% of Lafayette Investments Inc.'s investment portfolio, making the stock its 22nd biggest position. Lafayette Investments Inc. owned 0.10% of Paycom Software worth $5,507,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp lifted its position in shares of Paycom Software by 4.0% in 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. Davis Investment Partners LLC grew its holdings in Paycom Software by 2.3% during the 4th quarter. Davis Investment Partners LLC now owns 2,988 shares of the software maker's stock valued at $455,000 after buying an additional 68 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in Paycom Software by 0.8% during 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 in the last quarter. Lido Advisors LLC grew its holdings 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 buying an additional 87 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Paycom Software by 2.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker's stock worth $652,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

PAYC has been the topic of several recent research reports. TD Cowen decreased their price objective on Paycom Software from $154.00 to $149.00 and set a "buy" rating on the stock in a report on Friday, June 26th. Cantor Fitzgerald raised their target price on shares of Paycom Software from $115.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, March 6th. Barclays reduced their price target on shares of Paycom Software from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 7th. BMO Capital Markets upped their price target on shares of Paycom Software from $137.00 to $145.00 and gave the company a "market perform" rating in a research note on Thursday, May 7th. Finally, UBS Group decreased their price target on shares of Paycom Software from $210.00 to $183.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $159.25.

Paycom Software Trading Down 0.2%

Shares of NYSE PAYC opened at $138.88 on Friday. The business's 50 day moving average is $132.99 and its two-hundred day moving average is $135.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $248.95. The stock has a market capitalization of $6.61 billion, a P/E ratio of 16.06, a PEG ratio of 1.19 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.16. The business had revenue of $571.80 million for the quarter, compared to the consensus estimate of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.80 earnings per share. As a group, research analysts expect that Paycom Software, Inc. will post 9.32 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, May 26th. Paycom Software's dividend payout ratio 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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