Morningstar Investment Management LLC Buys New Shares in Paycom Software, Inc. $PAYC

Morningstar Investment Management LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,553 shares of the software maker’s stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYC. CYBER HORNET ETFs LLC purchased a new stake in Paycom Software during the second quarter valued at about $29,000. MUFG Securities EMEA plc purchased a new position in shares of Paycom Software in the 2nd quarter worth about $33,000. Brown Brothers Harriman & Co. lifted its stake in shares of Paycom Software by 190.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Paycom Software during the 3rd quarter worth about $33,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Paycom Software by 140.3% during 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. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the topic of several research reports. BMO Capital Markets raised their price target on shares of Paycom Software from $137.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Zacks Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Citigroup increased their price objective on shares of Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Finally, TD Cowen reduced their target price on shares of Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

Paycom Software Stock Up 0.2%

Shares of NYSE:PAYC opened at $145.71 on Monday. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. The company has a 50 day moving average of $136.71 and a two-hundred day moving average of $133.12. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $248.95. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. The business had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $564.37 million. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 earnings per share. As a group, analysts forecast that Paycom Software, Inc. will post 9.37 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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