Alpha Paradigm Partners LLC Buys 709 Shares of Paycom Software, Inc. (NYSE:PAYC)

Posted by on Mar 15th, 2023

Alpha Paradigm Partners LLC grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 188.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,085 shares of the software maker’s stock after acquiring an additional 709 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Paycom Software were worth $358,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Paycom Software by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,672,472 shares of the software maker’s stock worth $1,871,858,000 after buying an additional 61,819 shares during the last quarter. State Street Corp lifted its position in shares of Paycom Software by 1.3% during the 3rd quarter. State Street Corp now owns 1,849,465 shares of the software maker’s stock worth $610,305,000 after buying an additional 23,413 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Paycom Software by 8.7% during the 1st quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock worth $470,756,000 after buying an additional 108,505 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Paycom Software by 10.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 969,474 shares of the software maker’s stock worth $271,570,000 after buying an additional 91,650 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Paycom Software by 7.2% during the 1st quarter. Invesco Ltd. now owns 845,202 shares of the software maker’s stock worth $292,764,000 after buying an additional 56,649 shares during the last quarter. 88.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PAYC. Barclays upped their price objective on Paycom Software from $324.00 to $336.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Paycom Software in a research report on Wednesday, February 8th. Mizuho reaffirmed a “neutral” rating and issued a $350.00 target price on shares of Paycom Software in a report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Paycom Software from $425.00 to $400.00 and set a “buy” rating for the company in a report on Monday, January 23rd. Finally, Oppenheimer upped their target price on Paycom Software from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Paycom Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.00.

Paycom Software Trading Up 2.2 %

Shares of PAYC stock opened at $280.51 on Wednesday. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 57.84, a PEG ratio of 1.83 and a beta of 1.39. The stock has a 50-day moving average of $306.81 and a 200-day moving average of $321.14. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02. Paycom Software, Inc. has a 1-year low of $255.82 and a 1-year high of $402.78.

Paycom Software (NYSE:PAYC – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The software maker reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.24. Paycom Software had a return on equity of 25.62% and a net margin of 20.46%. The company had revenue of $370.61 million during the quarter, compared to analysts’ expectations of $366.71 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities research analysts forecast that Paycom Software, Inc. will post 5.98 earnings per share for the current year.

Paycom Software Company Profile

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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