Geode Capital Management LLC Has $383.27 Million Stock Holdings in Paycom Software, Inc. $PAYC

Geode Capital Management LLC grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,661,685 shares of the software maker’s stock after purchasing an additional 83,154 shares during the period. Geode Capital Management LLC owned about 2.87% of Paycom Software worth $383,265,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in Paycom Software by 1,918.4% during the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after buying an additional 1,505,990 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Paycom Software during the first quarter valued at approximately $114,440,000. Jennison Associates LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $49,853,000. Nuveen LLC purchased a new stake in shares of Paycom Software in the 1st quarter valued at approximately $26,177,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Paycom Software by 322.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 122,394 shares of the software maker’s stock worth $28,322,000 after purchasing an additional 93,440 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. cut their price objective on Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research note on Thursday, September 11th. TD Cowen cut their price target on Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, BMO Capital Markets boosted their price target 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. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.77.

Paycom Software Stock Performance

PAYC opened at $166.16 on Friday. The company has a market cap of $9.35 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. The stock has a 50-day moving average of $200.22 and a 200-day moving average of $224.22. Paycom Software, Inc. has a 52-week low of $156.50 and a 52-week high of $267.76.

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

Paycom Software Dividend Announcement

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

Paycom Software Profile

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.