Paycom Software, Inc. $PAYC Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP cut its stake in Paycom by 35.3% in Q3, selling 22,636 shares and now holds 41,436 shares valued at about $8.62 million (~0.07% of the company).
• Paycom slightly beat quarterly expectations with EPS $2.45 vs. $2.44 and revenue of $544.3M (up 10.2% YoY), and announced a quarterly dividend of $0.375 per share (1.2% yield).
• Institutional investors own roughly 87.8% of Paycom, with large activity from Allianz (added ~482k shares) and Vanguard (owns ~5.80M shares, ~$1.21B), while analysts' consensus rating is Hold with a $170.71 target.

Korea Investment CORP lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 35.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,436 shares of the software maker's stock after selling 22,636 shares during the period. Korea Investment CORP owned about 0.07% of Paycom Software worth $8,624,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its stake in Paycom Software by 10,106.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker's stock valued at $101,355,000 after acquiring an additional 482,186 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Paycom Software by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker's stock worth $1,207,792,000 after purchasing an additional 179,218 shares during the last quarter. State Street Corp increased its position in shares of Paycom Software by 8.4% in the 2nd quarter. State Street Corp now owns 2,097,910 shares of the software maker's stock worth $485,456,000 after purchasing an additional 162,477 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Paycom Software by 10.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker's stock valued at $355,641,000 after purchasing an additional 158,967 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Paycom Software by 5,691.0% in the 2nd quarter. SG Americas Securities LLC now owns 155,489 shares of the software maker's stock valued at $35,980,000 after purchasing an additional 152,804 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 1.2%

Shares of NYSE:PAYC opened at $130.36 on Thursday. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $267.76. The firm has a 50-day simple moving average of $137.47 and a 200 day simple moving average of $171.34. The company has a market cap of $7.08 billion, a PE ratio of 16.11, a P/E/G ratio of 1.39 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.01. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. The firm had revenue of $544.30 million for the quarter, compared to analysts' expectations of $542.79 million. During the same quarter last year, the company posted $2.32 earnings per share. Paycom Software's revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays lifted their price target on Paycom Software from $140.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Friday, March 6th. Jefferies Financial Group cut their price objective on Paycom Software from $190.00 to $130.00 and set a "hold" rating on the stock in a research note on Thursday, February 12th. TD Cowen decreased their target price on Paycom Software from $200.00 to $184.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Cantor Fitzgerald boosted their price target on Paycom Software from $115.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, March 6th. Finally, Zacks Research raised Paycom Software from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $170.71.

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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