Maryland State Retirement & Pension System Grows Holdings in Paycom Software, Inc. $PAYC

Maryland State Retirement & Pension System boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 299.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,505 shares of the software maker’s stock after purchasing an additional 7,125 shares during the period. Maryland State Retirement & Pension System’s holdings in Paycom Software were worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Willis Investment Counsel increased its position in shares of Paycom Software by 122.2% during the fourth quarter. Willis Investment Counsel now owns 22,100 shares of the software maker’s stock valued at $3,522,000 after acquiring an additional 12,156 shares during the last quarter. Berkeley Inc boosted its position in Paycom Software by 47.5% in the fourth quarter. Berkeley Inc now owns 40,794 shares of the software maker’s stock worth $6,501,000 after purchasing an additional 13,140 shares during the last quarter. Nordea Investment Management AB boosted its position in Paycom Software by 203.1% in the fourth quarter. Nordea Investment Management AB now owns 190,276 shares of the software maker’s stock worth $30,336,000 after purchasing an additional 127,493 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Paycom Software in the 4th quarter valued at $1,911,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Paycom Software by 1,151.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 170,854 shares of the software maker’s stock valued at $27,227,000 after purchasing an additional 157,201 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the topic of several research reports. Barclays lowered their price objective on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. UBS Group lowered their price target on shares of Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Mizuho upped their price objective on Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Citigroup increased their price objective on Paycom Software from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $159.25.

Paycom Software Stock Performance

Shares of PAYC stock opened at $144.81 on Thursday. The firm’s 50 day moving average is $135.49 and its 200 day moving average is $133.75. The stock has a market capitalization of $6.90 billion, a P/E ratio of 16.74, a PEG ratio of 1.22 and a beta of 0.80. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $248.95. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The company had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. During the same period in the previous year, the company posted $2.80 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 9.32 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were paid a $0.375 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.50 annualized dividend and a yield of 1.0%. Paycom Software’s dividend payout ratio is currently 17.34%.

Paycom Software Company 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.