Odyssean LLC Increases Stock Position in Paycom Software, Inc. $PAYC

Odyssean LLC raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 101.7% in the second quarter, Holdings Channel.com reports. The fund owned 22,099 shares of the software maker’s stock after purchasing an additional 11,143 shares during the period. Odyssean LLC’s holdings in Paycom Software were worth $2,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Paycom Software during the 2nd quarter worth approximately $632,460,000. State Street Corp increased its holdings in Paycom Software by 0.4% in 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 position in 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 valued at $265,419,000 after purchasing an additional 275,954 shares during the period. Invesco Ltd. raised its position in Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in Paycom Software by 20.1% during the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after purchasing an additional 204,191 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Price Performance

Paycom Software stock opened at $231.80 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $233.46. The firm has a market cap of $10.45 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.76. The company’s 50 day moving average is $164.53 and its two-hundred day moving average is $141.35.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Paycom Software, Inc. will post 10.48 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a $0.375 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software’s dividend payout ratio (DPR) is 15.94%.

Analyst Ratings Changes

PAYC has been the subject of a number of research reports. KeyCorp lifted their price objective on Paycom Software from $195.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday. Stifel Nicolaus raised their target price on Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 6th. UBS Group lifted their target price on Paycom Software from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Mizuho lifted their target price 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 analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $208.08.

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.