Pictet Asset Management Holding SA Sells 14,895 Shares of Paycom Software, Inc. $PAYC

Key Points

• Pictet Asset Management Holding SA cut its Paycom Software stake by 64.9% in the first quarter, selling 14,895 shares and leaving it with 8,070 shares valued at about $981,000.
• Paycom reported better-than-expected first-quarter results, posting EPS of $3.15 versus the $2.99 consensus and revenue of $571.8 million, up 7.8% year over year.
• The stock was trading around $143.39, and analysts currently have a consensus rating of Hold with an average price target of $159.25.

Pictet Asset Management Holding SA reduced its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 64.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,070 shares of the software maker's stock after selling 14,895 shares during the period. Pictet Asset Management Holding SA's holdings in Paycom Software were worth $981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its stake in Paycom Software by 0.4% during the 4th quarter. State Street Corp now owns 2,165,546 shares of the software maker's stock valued at $345,101,000 after purchasing an additional 8,419 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Paycom Software by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker's stock worth $265,419,000 after purchasing an additional 275,954 shares during the last quarter. Invesco Ltd. raised its stake in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock worth $248,551,000 after purchasing an additional 343,494 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Paycom Software by 12.7% during the fourth quarter. Federated Hermes Inc. now owns 624,371 shares of the software maker's stock valued at $99,500,000 after purchasing an additional 70,208 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Paycom Software by 29.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 604,090 shares of the software maker's stock valued at $96,878,000 after purchasing an additional 138,795 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Up 2.5%

Paycom Software stock opened at $143.39 on Wednesday. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $248.95. The stock has a fifty day moving average of $133.67 and a 200 day moving average of $134.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $6.83 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.16. The business had revenue of $571.80 million for the quarter, compared to analysts' expectations of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $2.80 earnings per share. As a group, sell-side analysts predict that Paycom Software, Inc. will post 9.32 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, May 26th. Paycom Software's payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Paycom Software in a report on Friday, May 1st. TD Cowen dropped their price target on shares of Paycom Software from $154.00 to $149.00 and set a "buy" rating on the stock in a report on Friday, June 26th. UBS Group reduced their price target on shares of Paycom Software from $210.00 to $183.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. BTIG Research boosted their price objective on shares of Paycom Software from $140.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Paycom Software from $137.00 to $145.00 and gave the company a "market perform" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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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