Legal & General Group Plc Invests $12.01 Million in Paycom Software, Inc. $PAYC

Legal & General Group Plc bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 95,536 shares of the software maker's stock, valued at approximately $12,007,000. Legal & General Group Plc owned 0.21% of Paycom Software at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Paycom Software during the 2nd quarter worth $632,460,000. State Street Corp increased its stake in Paycom Software by 0.4% in the fourth quarter. State Street Corp now owns 2,165,546 shares of the software maker's stock valued at $345,101,000 after purchasing an additional 8,419 shares during the period. First Trust Advisors LP increased its stake in Paycom Software by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker's stock valued at $265,419,000 after purchasing an additional 275,954 shares during the period. Invesco Ltd. boosted its holdings in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock valued at $248,551,000 after acquiring an additional 343,494 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of Paycom Software by 20.1% in the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock valued at $153,320,000 after acquiring an additional 204,191 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAYC has been the topic of several analyst reports. UBS Group lifted their target price on shares of Paycom Software from $205.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup upped their price target on shares of Paycom Software from $136.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, August 7th. TD Cowen upped their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised shares of Paycom Software from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $214.23.

Paycom Software Stock Up 2.9%

NYSE PAYC traded up $6.78 during trading hours on Thursday, reaching $243.03. 28,490 shares of the company traded hands, compared to its average volume of 1,278,218. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $244.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $10.95 billion, a PE ratio of 25.96, a PEG ratio of 1.32 and a beta of 0.78. The company has a 50 day moving average of $177.95 and a two-hundred day moving average of $146.04.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the firm posted $2.06 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that Paycom Software, Inc. will post 10.65 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software's dividend payout ratio (DPR) is 15.94%.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the transaction, the insider owned 69,911 shares of the company's stock, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.20% of the stock is currently owned by company insiders.

Paycom Software Company Profile

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.