Machina Capital S.A.S. Invests $526,000 in Paycom Software, Inc. (NYSE:PAYC)

Key Points

• Machina Capital S.A.S. acquired a new position in Paycom Software, buying 2,406 shares valued at approximately $526,000 during the 1st quarter of 2023.
• Paycom Software's stock price rose by 0.3% to $238.76, with a market cap of $13.81 billion and a price-to-earnings ratio of 34.06.
• The company declared a quarterly dividend of $0.375, translating to an annualized payout of $1.50, with a dividend yield of 0.63%.

Machina Capital S.A.S. bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,406 shares of the software maker's stock, valued at approximately $526,000.

Other large investors have also made changes to their positions in the company. Allworth Financial LP grew its holdings in Paycom Software by 12.9% in the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker's stock valued at $105,000 after buying an additional 53 shares in the last quarter. Salvus Wealth Management LLC grew its holdings in Paycom Software by 4.9% in the 1st quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after buying an additional 58 shares in the last quarter. Burns Matteson Capital Management LLC grew its holdings in Paycom Software by 2.5% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker's stock valued at $513,000 after buying an additional 58 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock valued at $1,128,000 after buying an additional 60 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Paycom Software by 11.0% in the 1st quarter. Private Trust Co. NA now owns 638 shares of the software maker's stock valued at $139,000 after buying an additional 63 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Trading Down 0.5%

PAYC traded down $1.22 during mid-day trading on Monday, hitting $237.58. 106,801 shares of the stock were exchanged, compared to its average volume of 613,765. The firm's fifty day moving average is $242.07 and its two-hundred day moving average is $225.56. Paycom Software, Inc. has a 1-year low of $152.46 and a 1-year high of $267.76. The company has a market cap of $13.74 billion, a PE ratio of 33.85, a PEG ratio of 2.63 and a beta of 0.77.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.18. The company had revenue of $530.50 million for the quarter, compared to analyst estimates of $522.92 million. Paycom Software had a return on equity of 25.53% and a net margin of 20.60%. Paycom Software's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. As a group, research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's dividend payout ratio is currently 21.40%.

Insider Buying and Selling at Paycom Software

In other news, COO Randall Peck sold 890 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the sale, the chief operating officer owned 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 23,200 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $265.20, for a total value of $6,152,640.00. Following the sale, the chief executive officer directly owned 3,224,049 shares in the company, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,016 shares of company stock valued at $42,736,608 in the last quarter. Corporate insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays upped their target price on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. 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 price target on Paycom Software from $215.00 to $244.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Finally, KeyCorp increased their price target on Paycom Software from $245.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Paycom Software presently has an average rating of "Hold" and an average price target of $226.90.

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.