M&T Bank Corp Acquires 64,226 Shares of Paycom Software, Inc. $PAYC

Key Points

• M&T Bank Corp increased its stake in Paycom by 2,078.5% in Q4, buying 64,226 shares to hold 67,316 shares total—about 0.12% of the company valued at roughly $10.73 million.
• Multiple analysts cut price targets in February–March, leaving the consensus rating at Hold (average target $168.79) amid mixed views from firms like Jefferies, Citigroup, Guggenheim and Cantor Fitzgerald.
• Paycom beat Q4 expectations with $2.45 EPS (vs. $2.44) and $544.3M revenue (up 10.2% YoY), trades at a market cap of $5.89B with a P/E of 15.27, and pays a quarterly dividend of $0.375 (≈1.2% yield).

M&T Bank Corp grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 2,078.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,316 shares of the software maker's stock after buying an additional 64,226 shares during the period. M&T Bank Corp owned approximately 0.12% of Paycom Software worth $10,727,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Paycom Software by 29.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 604,090 shares of the software maker's stock worth $96,878,000 after purchasing an additional 138,795 shares in the last quarter. Optas LLC lifted its holdings in shares of Paycom Software by 25.4% in the 4th quarter. Optas LLC now owns 4,694 shares of the software maker's stock worth $748,000 after purchasing an additional 951 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Paycom Software in the 4th quarter worth $321,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Paycom Software by 157.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,553 shares of the software maker's stock worth $16,343,000 after purchasing an additional 62,688 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in shares of Paycom Software by 25.9% in the 4th quarter. Tributary Capital Management LLC now owns 2,065 shares of the software maker's stock worth $329,000 after purchasing an additional 425 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group cut their target price on Paycom Software from $190.00 to $130.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Guggenheim cut their target price on Paycom Software from $210.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Citigroup cut their target price on Paycom Software from $185.00 to $128.00 and set a "neutral" rating on the stock in a report on Friday, February 13th. Cantor Fitzgerald increased their target price on Paycom Software from $115.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, March 6th. Finally, Mizuho cut their target price on Paycom Software from $180.00 to $120.00 and set a "neutral" rating on the stock in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $168.79.

Paycom Software Trading Down 1.5%

NYSE PAYC opened at $123.56 on Friday. The firm has a market capitalization of $5.89 billion, a P/E ratio of 15.27, a PEG ratio of 1.32 and a beta of 0.79. The business has a fifty day simple moving average of $124.67 and a 200 day simple moving average of $150.51. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.01. The business had revenue of $544.30 million during the quarter, compared to analyst estimates of $542.79 million. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.Paycom Software's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.32 EPS. As a group, sell-side analysts predict that Paycom Software, Inc. will post 8.59 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 9th. Paycom Software's dividend payout ratio is presently 18.54%.

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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