PDT Partners LLC Makes New $9.78 Million Investment in Paycom Software, Inc. $PAYC

Key Points

• PDT Partners LLC purchased 77,774 Paycom shares worth approximately $9.78 million during the second quarter, giving it a 0.17% stake. Institutional investors collectively own 87.77% of the company.
• Paycom exceeded quarterly expectations, reporting adjusted earnings of $2.78 per share versus the $2.38 consensus estimate and revenue of $531.2 million, up 9.8% year over year.
• The company declared a quarterly dividend of $0.375 per share, equivalent to $1.50 annually and a 0.6% yield. Despite several analysts raising price targets, the stock carries a consensus “Hold” rating with a $208.08 target.

PDT Partners LLC purchased a new stake in 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 purchased 77,774 shares of the software maker's stock, valued at approximately $9,775,000. PDT Partners LLC owned 0.17% of Paycom Software at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in shares of Paycom Software by 190.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker's stock worth $25,000 after buying an additional 101 shares in the last quarter. Clearstead Advisors LLC lifted 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 acquiring an additional 94 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Paycom Software during the 2nd quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Paycom Software during the 2nd quarter worth approximately $33,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $33,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Up 0.9%

Shares of Paycom Software stock opened at $231.80 on Wednesday. The stock has a market cap of $10.45 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.30 and a beta of 0.76. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $233.46. The business's 50 day moving average is $164.53 and its 200-day moving average is $141.35.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million during the quarter, compared to analysts' expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm's revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $2.06 earnings per share. Equities research analysts predict that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software's dividend payout ratio (DPR) is 15.94%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. KeyCorp raised their target price on shares of Paycom Software from $195.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Citigroup lifted their price target on shares of Paycom Software from $136.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. 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 increased their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Paycom Software currently has a consensus rating of "Hold" and a consensus price target of $208.08.

Paycom Software Profile

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.

Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source