The Manufacturers Life Insurance Company Cuts Stake in Paycom Software, Inc. $PAYC

The Manufacturers Life Insurance Company lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 65.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,801 shares of the software maker’s stock after selling 24,729 shares during the period. The Manufacturers Life Insurance Company’s holdings in Paycom Software were worth $1,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reinhart Partners LLC. boosted its holdings in Paycom Software by 887.4% in the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock worth $95,351,000 after buying an additional 537,726 shares during the last quarter. Contour Asset Management LLC purchased a new position in shares of Paycom Software in the fourth quarter valued at approximately $60,333,000. Two Sigma Investments LP lifted its position in shares of Paycom Software by 228.7% in the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after acquiring an additional 370,219 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after acquiring an additional 343,494 shares during the last quarter. Finally, River Road Asset Management LLC boosted its stake in shares of Paycom Software by 481.9% in the fourth quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock worth $62,533,000 after acquiring an additional 324,970 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on PAYC shares. Barclays increased their price objective on Paycom Software from $154.00 to $210.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. UBS Group upped their target price on shares of Paycom Software from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Stifel Nicolaus raised their price target 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. Finally, Cantor Fitzgerald boosted their price target on shares of Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. One 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $204.69.

Paycom Software Price Performance

Paycom Software stock opened at $213.99 on Tuesday. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $234.60. The stock has a market cap of $9.64 billion, a P/E ratio of 22.74, a PEG ratio of 1.33 and a beta of 0.75. The company has a 50-day moving average price of $145.80 and a 200 day moving average price of $135.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating 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 company had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period in the previous year, the business posted $2.06 EPS. Paycom Software’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Paycom Software, Inc. will post 9.53 earnings per share for the current year.

Paycom Software Dividend Announcement

The company 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. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s 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.