Meeder Advisory Services Inc. Purchases Shares of 2,249 Paycom Software, Inc. $PAYC

Meeder Advisory Services Inc. acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,249 shares of the software maker’s stock, valued at approximately $283,000.

Several other large investors have also recently modified their holdings of PAYC. Brown Brothers Harriman & Co. boosted its holdings in Paycom Software by 190.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after acquiring an additional 101 shares during the period. Clearstead Advisors LLC increased its stake in Paycom Software by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock worth $26,000 after purchasing an additional 94 shares during the period. CYBER HORNET ETFs LLC bought a new stake in Paycom Software in the second quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Paycom Software in the second quarter valued at approximately $33,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Paycom Software during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PAYC. Citigroup raised their target price on shares of Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. BTIG Research increased their price target on shares of Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Barclays raised their price target on shares of Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Finally, Guggenheim boosted their price objective on shares of Paycom Software from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus price target of $204.69.

Paycom Software Stock Performance

Shares of PAYC stock opened at $229.37 on Friday. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.28 and a beta of 0.76. The stock has a fifty day moving average of $160.58 and a 200 day moving average of $139.85. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $234.60. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the firm earned $2.06 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.375 per share. 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 0.7%. Paycom Software’s payout ratio is presently 15.94%.

Paycom Software 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.