Legal & General Group Plc Makes New $12.01 Million Investment in Paycom Software, Inc. $PAYC

Legal & General Group Plc bought a new position in Paycom Software, Inc. (NYSE:PAYC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 95,536 shares of the software maker’s stock, valued at approximately $12,007,000.

Several other institutional investors have also recently made changes to their positions in PAYC. Mackenzie Financial Corp raised its holdings in shares of Paycom Software by 4.0% in the third quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock valued at $338,000 after acquiring an additional 63 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in Paycom Software by 0.8% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock worth $1,699,000 after acquiring an additional 86 shares during the period. Lido Advisors LLC grew its holdings in Paycom Software by 1.4% during the 4th quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock worth $1,081,000 after acquiring an additional 87 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Paycom Software by 2.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock worth $652,000 after acquiring an additional 88 shares in the last quarter. Finally, Evoke Wealth LLC increased its position in Paycom Software by 2.8% during the 4th quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock valued at $531,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity

In other news, insider Terrell Shane Hadlock sold 2,577 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the completion of the sale, the insider owned 70,152 shares in the company, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent research reports. Barclays boosted their price target on shares of Paycom Software from $154.00 to $210.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. BMO Capital Markets lifted their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Stifel Nicolaus boosted their price objective on shares of Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. BTIG Research upped their target price on Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $208.08.

Paycom Software Stock Up 0.2%

NYSE:PAYC opened at $239.06 on Tuesday. The company’s 50-day simple moving average is $173.53 and its 200-day simple moving average is $144.39. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $242.50. The stock has a market capitalization of $10.77 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.32 and a beta of 0.75.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the business posted $2.06 EPS. Paycom Software’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Paycom Software, Inc. will post 10.65 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be given 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 0.6%. Paycom Software’s dividend 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.