Maryland State Retirement & Pension System Acquires 7,125 Shares of Paycom Software, Inc. $PAYC

Key Points

• Maryland State Retirement & Pension System increased its Paycom Software stake by 299.4% in the first quarter, adding 7,125 shares to reach 9,505 shares valued at about $1.155 million.
• Paycom recently reported better-than-expected quarterly results, with earnings of $3.15 per share versus estimates of $2.99 and revenue of $571.8 million versus $564.37 million expected.
• The company also paid a quarterly dividend of $0.375 per share, while analysts currently have a consensus rating of Hold with an average price target of $159.25.

Maryland State Retirement & Pension System lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 299.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,505 shares of the software maker's stock after buying an additional 7,125 shares during the quarter. Maryland State Retirement & Pension System's holdings in Paycom Software were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Reinhart Partners LLC. boosted its stake in Paycom Software by 887.4% during the fourth quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker's stock worth $95,351,000 after acquiring an additional 537,726 shares in the last quarter. Contour Asset Management LLC bought a new stake in Paycom Software in the fourth quarter valued at $60,333,000. Two Sigma Investments LP raised its holdings in shares of Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker's stock valued at $110,756,000 after purchasing an additional 370,219 shares during the period. Invesco Ltd. raised its holdings in shares of Paycom Software by 28.2% during the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock valued at $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, River Road Asset Management LLC boosted its position in shares of Paycom Software by 481.9% during the 4th quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker's stock worth $62,533,000 after purchasing an additional 324,970 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of PAYC opened at $144.81 on Thursday. The firm has a market capitalization of $6.90 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.22 and a beta of 0.80. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $248.95. The stock has a 50 day moving average price of $135.49 and a two-hundred day moving average price of $133.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.16. The company had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $2.80 earnings per share. Equities analysts forecast that Paycom Software, Inc. will post 9.32 earnings per share for the current fiscal 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 given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Paycom Software's dividend payout ratio is presently 17.34%.

Analyst Ratings Changes

A number of analysts recently commented on PAYC shares. Citigroup boosted their target price on Paycom Software from $120.00 to $136.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Barclays cut their price target on Paycom Software from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Thursday, May 7th. Zacks Research raised Paycom Software from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. TD Cowen decreased their price objective on Paycom Software from $154.00 to $149.00 and set a "buy" rating for the company in a report on Friday, June 26th. Finally, BMO Capital Markets upped their target price on Paycom Software from $137.00 to $145.00 and gave the stock a "market perform" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $159.25.

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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