Meeder Advisory Services Inc. Invests $283,000 in Paycom Software, Inc. $PAYC

Meeder Advisory Services Inc. bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,249 shares of the software maker’s stock, valued at approximately $283,000.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC bought a new position in Paycom Software in the 4th quarter worth about $638,000. AQR Capital Management LLC increased its stake in Paycom Software by 23.7% during the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock valued at $4,136,000 after purchasing an additional 3,674 shares in the last quarter. United Services Automobile Association purchased a new position in Paycom Software in the first quarter worth about $215,000. Empowered Funds LLC raised its holdings in Paycom Software by 22.8% in the first quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock worth $1,739,000 after buying an additional 1,480 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Paycom Software by 220.8% in the first quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock worth $861,000 after buying an additional 2,712 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PAYC. Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. BTIG Research boosted their price objective on shares of Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Cantor Fitzgerald upped their price objective on Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Stifel Nicolaus increased their target price on Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, Guggenheim lifted their target price on Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average target price of $204.69.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $229.37 on Friday. The firm’s 50-day moving average price is $160.58 and its 200-day moving average price is $139.85. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The company has a market cap of $10.34 billion, a PE ratio of 24.38, a PEG ratio of 1.28 and a beta of 0.76. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $234.60.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping 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 firm had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. During the same period in the previous year, the business posted $2.06 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Paycom Software, Inc. will post 10.48 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s payout ratio is 15.94%.

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.