Van ECK Associates Corp Invests $4.89 Million in Paycom Software, Inc. $PAYC

Van ECK Associates Corp 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 38,890 shares of the software maker’s stock, valued at approximately $4,888,000. Van ECK Associates Corp owned 0.09% of Paycom Software as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PAYC. CYBER HORNET ETFs LLC acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $29,000. MUFG Securities EMEA plc acquired a new stake in Paycom Software during the 2nd quarter worth $33,000. Brown Brothers Harriman & Co. raised its stake in Paycom Software by 190.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Paycom Software during the 3rd quarter worth $33,000. Finally, Clearstead Advisors LLC raised its stake in Paycom Software by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock worth $26,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 2.9%

PAYC stock traded up $6.78 on Thursday, hitting $243.03. 28,490 shares of the company were exchanged, compared to its average volume of 1,278,218. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $244.98. The business’s fifty day moving average is $177.95 and its two-hundred day moving average is $146.04. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

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

Paycom Software Dividend Announcement

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

Insider Activity

In other news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction dated 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 directly owned 70,152 shares in the company, valued at approximately $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAYC. TD Cowen lifted 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. KeyCorp lifted their target price on shares of Paycom Software from $195.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. UBS Group boosted their price objective on shares of Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings raised shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, BTIG Research upped their price target on shares of Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $214.23.

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.