DekaBank Deutsche Girozentrale grew its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 54.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,150 shares of the software maker's stock after purchasing an additional 3,208 shares during the period. DekaBank Deutsche Girozentrale's holdings in Paycom Software were worth $1,526,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Paycom Software by 3.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,544 shares of the software maker's stock valued at $1,302,000 after acquiring an additional 217 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Paycom Software by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 9,035 shares of the software maker's stock valued at $1,798,000 after acquiring an additional 581 shares during the last quarter. Norden Group LLC lifted its stake in shares of Paycom Software by 13.6% in the 1st quarter. Norden Group LLC now owns 3,220 shares of the software maker's stock valued at $641,000 after acquiring an additional 385 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Paycom Software by 10.9% in the 1st quarter. Private Advisor Group LLC now owns 2,796 shares of the software maker's stock valued at $556,000 after acquiring an additional 274 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Paycom Software in the 1st quarter valued at about $256,000. Institutional investors own 87.77% of the company's stock.
PAYC stock opened at $210.65 on Friday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $222.30. The business's 50 day moving average price is $167.57 and its two-hundred day moving average price is $163.35. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.34% and a net margin of 25.78%. The company had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. Sell-side analysts forecast that Paycom Software, Inc. will post 6.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.
In related news, insider Bradley Scott Smith sold 1,524 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the transaction, the insider now owns 14,769 shares of the company's stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,906 shares of company stock valued at $11,731,540 in the last 90 days. Corporate insiders own 14.50% of the company's stock.
A number of research firms have recently weighed in on PAYC. Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research note on Thursday. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday. TD Cowen boosted their price target on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday. Finally, Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $190.80.
Get Our Latest Research Report on PAYC
Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Paycom Software, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paycom Software wasn't on the list.
While Paycom Software currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.