MidFirst Bank Acquires Shares of 5,039 Paycom Software, Inc. $PAYC

Key Points

• MidFirst Bank acquired 5,039 Paycom shares during the second quarter, worth approximately $633,000. Institutional investors collectively own 87.77% of Paycom’s outstanding stock.
• Analysts raised their price targets following Paycom’s strong quarterly results, but the consensus rating remains Hold with a target price of $204.69. Paycom reported adjusted EPS of $2.78 and revenue of $531.2 million, beating estimates while revenue grew 9.8% year over year.
• Paycom declared a quarterly dividend of $0.375 per share, equivalent to an annualized $1.50 payout and a 0.7% yield. The stock recently traded at $214.78, with a 52-week range of $104.90 to $234.60.

MidFirst Bank bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,039 shares of the software maker's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CYBER HORNET ETFs LLC bought a new position in shares of Paycom Software in the second quarter valued at approximately $29,000. MUFG Securities EMEA plc purchased a new position in Paycom Software in the second quarter worth $33,000. Brown Brothers Harriman & Co. boosted its position in Paycom Software by 190.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker's stock worth $25,000 after purchasing an additional 101 shares during the last quarter. Palisade Asset Management LLC purchased a new position in Paycom Software in the third quarter worth $33,000. Finally, Clearstead Advisors LLC grew its stake in Paycom Software by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker's stock valued at $26,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PAYC shares. Stifel Nicolaus raised their target price on Paycom Software from $120.00 to $200.00 and gave the company a "hold" rating in a research report on Thursday, August 6th. Barclays increased their price target on shares of Paycom Software from $154.00 to $210.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. KeyCorp raised their price objective on shares of Paycom Software from $195.00 to $270.00 and gave the stock an "overweight" rating in a report 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, Guggenheim lifted their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $204.69.

Paycom Software Stock Performance

NYSE:PAYC opened at $214.78 on Tuesday. The company has a market capitalization of $9.68 billion, a P/E ratio of 22.82, a P/E/G ratio of 1.23 and a beta of 0.75. The business has a fifty day simple moving average of $153.53 and a two-hundred day simple moving average of $137.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $234.60.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.38 by $0.40. The firm had revenue of $531.20 million for the quarter, compared to analysts' expectations of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.06 EPS. On average, analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's dividend payout ratio is 15.94%.

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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