Glenview Trust Co Purchases Shares of 9,442 Paycom Software, Inc. $PAYC

Glenview Trust Co purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,442 shares of the software maker’s stock, valued at approximately $1,187,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYC. Fluent Financial LLC bought a new position in Paycom Software in the 2nd quarter valued at $2,439,000. Principal Financial Group Inc. raised its holdings in shares of Paycom Software by 290.5% in the 1st quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock worth $29,627,000 after purchasing an additional 181,346 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Paycom Software by 1,151.4% during 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 during the period. Janus Henderson Group PLC increased its position in Paycom Software by 467.2% in the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock worth $2,819,000 after buying an additional 19,110 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Paycom Software in the fourth quarter valued at $8,376,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent research reports. Stifel Nicolaus lifted their price objective on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Barclays upped their price target on shares of Paycom Software from $154.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. BTIG Research increased their target price on Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets lifted their price target on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research report 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, the company presently has a consensus rating of “Hold” and an average target price of $208.08.

Paycom Software Trading Up 0.8%

Shares of PAYC stock opened at $239.00 on Friday. The business has a 50-day moving average price of $171.24 and a two-hundred day moving average price of $143.49. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $242.50. 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 has a market cap of $10.77 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.76.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data 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 analyst estimates of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.06 EPS. Equities analysts anticipate that Paycom Software, Inc. will post 10.65 EPS 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 dividend on an annualized basis and a dividend yield of 0.6%. Paycom Software’s dividend payout ratio is 15.94%.

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.