The Manufacturers Life Insurance Company Invests $1.58 Million in Paycom Software, Inc. $PAYC

The Manufacturers Life Insurance Company purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,539 shares of the software maker’s stock, valued at approximately $1,576,000.

Other large investors have also bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of Paycom Software by 4.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock valued at $338,000 after acquiring an additional 63 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in shares of Paycom Software by 0.8% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock worth $1,699,000 after purchasing an additional 86 shares during the last quarter. Lido Advisors LLC grew its stake in shares of Paycom Software by 1.4% during the fourth quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock worth $1,081,000 after purchasing an additional 87 shares during the period. Janus Henderson Group PLC grew its stake in shares of Paycom Software by 2.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock worth $652,000 after purchasing an additional 88 shares during the period. Finally, Evoke Wealth LLC increased its holdings in Paycom Software by 2.8% in the fourth quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock valued at $531,000 after purchasing an additional 90 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the sale, the insider directly owned 69,911 shares in the company, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.20% of the company’s stock.

Paycom Software Stock Performance

PAYC stock opened at $240.70 on Friday. The business’s 50-day moving average price is $180.28 and its two-hundred day moving average price is $146.85. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The firm has a market cap of $10.85 billion, a PE ratio of 25.58, a P/E/G ratio of 1.31 and a beta of 0.78. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $244.98.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results 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 the consensus estimate 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 for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors 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 of this dividend is Monday, August 24th. Paycom Software’s dividend payout ratio is presently 15.94%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several analyst reports. TD Cowen increased their target price on Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Stifel Nicolaus increased their price target on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” 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 note on Monday, May 18th. Finally, Cantor Fitzgerald boosted their price objective on shares of Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. One equities research 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 stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $214.23.

About Paycom Software

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.