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

Van ECK Associates Corp acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 38,890 shares of the software maker’s stock, valued at approximately $4,888,000. Van ECK Associates Corp owned about 0.09% of Paycom Software as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased 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 valued at $25,000 after purchasing an additional 101 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Paycom Software by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Paycom Software during the second quarter valued at $29,000. Caitlin John LLC acquired a new position in shares of Paycom Software in the 2nd quarter valued at $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Paycom Software in the 2nd quarter valued at $33,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Down 1.0%

NYSE PAYC opened at $235.49 on Thursday. The firm has a 50 day simple moving average of $177.95 and a 200-day simple moving average of $146.04. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $243.28. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.32 and a beta of 0.78.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $513.12 million. During the same period last year, the business earned $2.06 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Paycom Software, Inc. will post 10.65 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be issued 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 presently 15.94%.

Insider Transactions at Paycom Software

In related news, insider Terrell Shane Hadlock sold 2,577 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PAYC shares. Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. KeyCorp upped their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. BTIG Research lifted their price target on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Guggenheim upped their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $214.23.

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.