Northwestern Mutual Wealth Management Co. Makes New Investment in Paycom Software, Inc. $PAYC

Northwestern Mutual Wealth Management Co. purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,906 shares of the software maker’s stock, valued at approximately $1,748,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Paycom Software in the 2nd quarter valued at approximately $632,460,000. Reinhart Partners LLC. boosted its position in Paycom Software by 887.4% during the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock worth $95,351,000 after acquiring an additional 537,726 shares during the period. Contour Asset Management LLC acquired a new position in Paycom Software during the 4th quarter worth $60,333,000. Two Sigma Investments LP grew its stake in shares of Paycom Software by 228.7% in the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock worth $110,756,000 after purchasing an additional 370,219 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after purchasing an additional 343,494 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 0.3%

Shares of PAYC stock opened at $229.72 on Tuesday. The stock has a 50-day simple moving average of $162.48 and a 200 day simple moving average of $140.64. The stock has a market capitalization of $10.35 billion, a P/E ratio of 24.41, a P/E/G ratio of 1.29 and a beta of 0.75. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two 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 results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the previous year, the business earned $2.06 earnings per share. Paycom Software’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software’s dividend payout ratio is currently 15.94%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PAYC shares. UBS Group upped their price objective on shares of Paycom Software from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. KeyCorp boosted their price target on shares of Paycom Software from $195.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. BMO Capital Markets boosted their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” 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 raised their price objective on shares of Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $204.69.

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.