Ieq Capital LLC Invests $305,000 in Paycom Software, Inc. $PAYC

Ieq Capital LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,425 shares of the software maker’s stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Fluent Financial LLC purchased a new stake in shares of Paycom Software in the second quarter valued at about $2,439,000. Principal Financial Group Inc. lifted its holdings in shares of Paycom Software by 290.5% in the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock valued at $29,627,000 after purchasing an additional 181,346 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Paycom Software by 1,151.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 170,854 shares of the software maker’s stock valued at $27,227,000 after purchasing an additional 157,201 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Paycom Software by 467.2% during the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock valued at $2,819,000 after buying an additional 19,110 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Paycom Software during the fourth quarter valued at approximately $8,376,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. TD Cowen increased their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Guggenheim increased their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus target price of $214.23.

Paycom Software Price Performance

Paycom Software stock traded up $6.78 during trading hours on Thursday, hitting $243.03. 28,490 shares of the company traded hands, compared to its average volume of 1,278,218. The firm has a market cap of $10.95 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.32 and a beta of 0.78. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The firm’s 50-day simple moving average is $177.95 and its two-hundred day simple moving average is $146.04. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $244.98.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, beating the consensus estimate of $2.38 by $0.40. The firm had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $2.06 EPS. As a group, analysts forecast that Paycom Software, Inc. will post 10.65 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. Paycom Software’s payout ratio is currently 15.94%.

Insider Activity

In other news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. The trade was a 3.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.20% of the stock is owned by corporate insiders.

Paycom Software Company 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.