PNC Financial Services Group Inc. Buys 9,028 Shares of Paycom Software, Inc. $PAYC

Key Points

• PNC Financial Services increased its Paycom Software stake by 165.8% in the first quarter, purchasing 9,028 additional shares for a total holding of 14,472 shares valued at approximately $1.76 million. Institutional investors own 87.77% of PAYC.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $159.75. Ratings range from Strong Buy to Hold, while individual targets span roughly $130 to $154 among the cited firms.
• Paycom exceeded quarterly expectations, reporting $3.15 EPS and $571.8 million in revenue, with revenue up 7.8% year over year. The company also declared a quarterly dividend of $0.375, equivalent to a 0.9% annual yield.

PNC Financial Services Group Inc. boosted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 165.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,472 shares of the software maker's stock after buying an additional 9,028 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Paycom Software were worth $1,759,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAYC. CYBER HORNET ETFs LLC bought a new stake in shares of Paycom Software in the 2nd quarter worth $29,000. MUFG Securities EMEA plc purchased a new stake in shares of Paycom Software in the second quarter valued at about $33,000. Brown Brothers Harriman & Co. lifted its position 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 valued at $25,000 after purchasing an additional 101 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Paycom Software during the third quarter valued at about $33,000. Finally, Clearstead Advisors LLC boosted its holdings in Paycom Software by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker's stock worth $26,000 after purchasing an additional 94 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PAYC. Citigroup upped their price objective on shares of Paycom Software from $120.00 to $136.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Barclays lifted their target price on shares of Paycom Software from $148.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. TD Cowen cut their target price on Paycom Software from $154.00 to $149.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Zacks Research raised Paycom Software from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Finally, Mizuho increased their price target on Paycom Software from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $159.75.

Paycom Software Price Performance

PAYC opened at $161.45 on Friday. The firm has a market cap of $7.69 billion, a P/E ratio of 18.66, a PEG ratio of 1.43 and a beta of 0.80. The firm has a 50-day moving average of $138.57 and a 200 day moving average of $133.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $248.95.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.16. The business had revenue of $571.80 million during the quarter, compared to the consensus estimate of $564.37 million. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 earnings per share. On average, research analysts expect that Paycom Software, Inc. will post 9.37 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Paycom Software's payout ratio is 17.34%.

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.

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.