Victory Capital Management Inc. Purchases 8,769 Shares of Paycom Software, Inc. $PAYC

Key Points

• Victory Capital Management raised its Paycom stake by 20.8%, buying 8,769 shares to hold 50,934 shares worth about $10.6 million per its latest SEC filing.
• Several large institutions also expanded positions—Allianz Asset Management added 482,186 shares to reach 486,957, Vanguard holds 5,802,788 shares (~$1.21B)—and institutional ownership stands at 87.77%.
• Analysts are mixed: the consensus rating is Hold with an average price target of $170.71 after multiple revisions, while Paycom recently reported a slight EPS beat ($2.45 vs. $2.44) and declared a $0.375 quarterly dividend (1.2% yield).

Victory Capital Management Inc. raised its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,934 shares of the software maker's stock after acquiring an additional 8,769 shares during the period. Victory Capital Management Inc. owned about 0.09% of Paycom Software worth $10,601,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH lifted its position in Paycom Software by 10,106.6% in the third quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker's stock worth $101,355,000 after purchasing an additional 482,186 shares during the period. Vanguard Group Inc. increased its holdings in Paycom Software by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker's stock valued at $1,207,792,000 after buying an additional 179,218 shares during the period. State Street Corp raised its stake 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 valued at $485,456,000 after buying an additional 162,477 shares in 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 buying an additional 158,967 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Paycom Software by 5,691.0% during the 2nd quarter. SG Americas Securities LLC now owns 155,489 shares of the software maker's stock worth $35,980,000 after acquiring an additional 152,804 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PAYC shares. Cantor Fitzgerald upped their target price on shares of Paycom Software from $115.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, March 6th. UBS Group decreased their price objective on Paycom Software from $245.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, January 26th. TD Cowen dropped their target price on Paycom Software from $200.00 to $184.00 and set a "buy" rating for the company in a report on Thursday, January 8th. KeyCorp decreased their price target on Paycom Software from $250.00 to $195.00 and set an "overweight" rating on the stock in a research note on Thursday, February 12th. Finally, Mizuho lowered their price target on Paycom Software from $180.00 to $120.00 and set a "neutral" rating on the stock in a research report on Thursday, February 12th. 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 currently has an average rating of "Hold" and an average price target of $170.71.

Paycom Software Trading Down 1.2%

NYSE:PAYC opened at $130.36 on Thursday. The stock has a market capitalization of $7.08 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.39 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $267.76. The firm has a 50 day moving average of $137.47 and a 200-day moving average of $171.34.

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

Paycom Software Dividend Announcement

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

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.