MTM Investment Management LLC Buys 620 Shares of Paycom Software, Inc. $PAYC

MTM Investment Management LLC grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 26.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,957 shares of the software maker’s stock after acquiring an additional 620 shares during the period. MTM Investment Management LLC’s holdings in Paycom Software were worth $684,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Paycom Software by 5.3% in the second quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock valued at $383,265,000 after purchasing an additional 83,154 shares during the last quarter. Baillie Gifford & Co. increased its position in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after purchasing an additional 1,505,990 shares during the period. Invesco Ltd. raised its holdings in Paycom Software by 5.0% during the 1st quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after purchasing an additional 58,176 shares during the last quarter. Northern Trust Corp lifted its position in shares of Paycom Software by 2.3% in the 1st quarter. Northern Trust Corp now owns 740,385 shares of the software maker’s stock worth $161,759,000 after purchasing an additional 16,369 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Paycom Software by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker’s stock worth $138,435,000 after purchasing an additional 69,884 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by insiders.

Paycom Software Stock Performance

PAYC stock opened at $166.16 on Friday. The business has a 50-day simple moving average of $200.22 and a two-hundred day simple moving average of $224.22. The company has a market capitalization of $9.35 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. Paycom Software, Inc. has a 52-week low of $156.50 and a 52-week high of $267.76.

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

Paycom Software Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PAYC shares. BMO Capital Markets boosted their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. UBS Group reduced their price target on shares of Paycom Software from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Jefferies Financial Group cut their price objective on shares of Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $225.77.

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.