PDT Partners LLC Invests $9.78 Million in Paycom Software, Inc. $PAYC

PDT Partners LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 77,774 shares of the software maker’s stock, valued at approximately $9,775,000.

A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in shares of Paycom Software in the fourth quarter valued at $638,000. AQR Capital Management LLC lifted its stake in shares of Paycom Software by 23.7% during the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock worth $4,136,000 after buying an additional 3,674 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Paycom Software during the 1st quarter worth about $215,000. Empowered Funds LLC boosted its holdings in shares of Paycom Software by 22.8% during the 1st 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 period. Finally, Focus Partners Wealth grew its stake in Paycom Software by 220.8% in the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock valued at $861,000 after buying an additional 2,712 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 0.9%

PAYC stock opened at $231.80 on Wednesday. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $233.46. The company has a market capitalization of $10.45 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.76. The company’s 50-day simple moving average is $164.53 and its 200 day simple moving average is $141.35. 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 (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 EPS. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 10.48 earnings per share for the current year.

Paycom Software Announces Dividend

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 $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, August 24th. Paycom Software’s payout ratio is presently 15.94%.

Analyst Ratings Changes

Several research firms have weighed in on PAYC. BTIG Research increased their price target on shares of Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, August 6th. UBS Group boosted their price objective on Paycom Software from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. BMO Capital Markets upped their target price on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. KeyCorp increased their target price on Paycom Software from $195.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Zacks Research raised 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 given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $208.08.

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.