Victory Capital Management Inc. Has $10.60 Million Position in Paycom Software, Inc. $PAYC

Victory Capital Management Inc. boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,934 shares of the software maker’s stock after buying an additional 8,769 shares during the quarter. Victory Capital Management Inc.’s holdings in Paycom Software were worth $10,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PAYC. Vanguard Group Inc. lifted its stake in shares of Paycom Software by 3.2% during the third quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock valued at $1,207,792,000 after acquiring an additional 179,218 shares during the period. State Street Corp boosted its stake in shares of Paycom Software by 8.4% in the 2nd quarter. State Street Corp now owns 2,097,910 shares of the software maker’s stock valued at $485,456,000 after purchasing an additional 162,477 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Paycom Software by 10.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,708,662 shares of the software maker’s stock worth $355,641,000 after buying an additional 158,967 shares during the period. Geode Capital Management LLC raised its stake in shares of Paycom Software by 5.3% during the second quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock worth $383,265,000 after buying an additional 83,154 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Paycom Software by 17.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 633,692 shares of the software maker’s stock valued at $146,636,000 after buying an additional 96,138 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of analyst reports. Zacks Research raised Paycom Software from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Cantor Fitzgerald increased their target price on Paycom Software from $115.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Mizuho decreased their target price on Paycom Software from $180.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. BTIG Research cut their price target on shares of Paycom Software from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Barclays upped their target price on shares of Paycom Software from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. Five equities 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’s stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $170.71.

Paycom Software Trading Down 1.2%

PAYC opened at $130.36 on Thursday. The stock has a market capitalization of $7.08 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.39 and a beta of 0.80. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $267.76. The firm’s fifty day simple moving average is $137.47 and its 200 day simple moving average is $171.34.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The company had revenue of $544.30 million during the quarter, compared to analysts’ expectations of $542.79 million. During the same period in the prior year, the firm earned $2.32 earnings per share. Paycom Software’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.50 dividend on an annualized basis and a yield of 1.2%. Paycom Software’s dividend payout ratio (DPR) is 18.54%.

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.