Wealth Alliance LLC Invests $202,000 in Paycom Software, Inc. $PAYC

Wealth Alliance LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 874 shares of the software maker’s stock, valued at approximately $202,000.

Several other hedge funds have also modified their holdings of PAYC. SouthState Corp purchased a new position in Paycom Software in the 1st quarter worth about $27,000. S Bank Fund Management Ltd purchased a new stake in Paycom Software during the first quarter valued at about $37,000. Assetmark Inc. boosted its holdings in shares of Paycom Software by 651.9% in the second quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock worth $47,000 after buying an additional 176 shares during the period. Brooklyn Investment Group increased its position in shares of Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after acquiring an additional 39 shares in the last quarter. Finally, Putney Financial Group LLC raised its holdings in shares of Paycom Software by 77.0% during the second quarter. Putney Financial Group LLC now owns 338 shares of the software maker’s stock valued at $78,000 after acquiring an additional 147 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PAYC. TD Cowen decreased their price objective on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Mizuho decreased their target price on Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Zacks Research lowered Paycom Software from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. KeyCorp reduced their price objective on Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Jefferies Financial Group lowered their target price on Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Paycom Software has an average rating of “Hold” and a consensus target price of $225.77.

Insider Activity

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 10.90% of the company’s stock.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $166.16 on Friday. Paycom Software, Inc. has a one year low of $156.50 and a one year high of $267.76. The business’s 50-day moving average price is $200.22 and its two-hundred day moving average price is $224.26. The company has a market capitalization of $9.35 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.79 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.02). The firm had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio is 18.66%.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.