Candriam S.C.A. Purchases 28,319 Shares of Paycom Software, Inc. $PAYC

Candriam S.C.A. grew its position in Paycom Software, Inc. (NYSE:PAYC) by 40.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,023 shares of the software maker’s stock after purchasing an additional 28,319 shares during the quarter. Candriam S.C.A. owned approximately 0.17% of Paycom Software worth $22,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYC. SouthState Corp purchased a new position in shares of Paycom Software during the 1st quarter valued at $27,000. S Bank Fund Management Ltd purchased a new stake in Paycom Software in the 1st quarter worth $37,000. Assetmark Inc. raised its holdings in Paycom Software by 651.9% during the second quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock valued at $47,000 after acquiring an additional 176 shares during the period. Brooklyn Investment Group lifted its position in shares of Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after acquiring an additional 39 shares in the last quarter. Finally, Putney Financial Group LLC boosted its stake in shares of Paycom Software by 77.0% in the second quarter. Putney Financial Group LLC now owns 338 shares of the software maker’s stock worth $78,000 after acquiring an additional 147 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAYC has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Zacks Research cut shares of Paycom Software from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Mizuho dropped their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Guggenheim assumed coverage on shares of Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Paycom Software in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $225.77.

Paycom Software Stock Performance

PAYC stock opened at $164.43 on Friday. The firm has a fifty day moving average price of $201.38 and a 200 day moving average price of $224.68. Paycom Software, Inc. has a fifty-two week low of $156.50 and a fifty-two week high of $267.76. The firm has a market cap of $9.25 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.02). Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The business had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. During the same quarter last year, the business earned $1.67 EPS. Paycom Software’s revenue for the quarter was up 9.2% compared to the same quarter last year. Paycom Software has set its FY 2025 guidance at EPS. On average, equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be given a $0.375 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.50 annualized dividend and a yield of 0.9%. Paycom Software’s dividend payout ratio (DPR) is currently 18.66%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the sale, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 10.90% of the stock is owned by insiders.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.