Ridgewood Investments LLC Purchases Shares of 87 Paycom Software, Inc. (NYSE:PAYC)

Posted by Defense World Staff on Jul 12th, 2023

Ridgewood Investments LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 87 shares of the software maker’s stock, valued at approximately $26,000.

A number of other hedge funds have also modified their holdings of PAYC. Private Trust Co. NA grew its holdings in Paycom Software by 10.2% during the 1st quarter. Private Trust Co. NA now owns 401 shares of the software maker’s stock valued at $122,000 after buying an additional 37 shares during the last quarter. FourThought Financial LLC boosted its stake in shares of Paycom Software by 11.9% during the third quarter. FourThought Financial LLC now owns 385 shares of the software maker’s stock valued at $127,000 after acquiring an additional 41 shares during the last quarter. Czech National Bank increased its position in Paycom Software by 0.7% during the 4th quarter. Czech National Bank now owns 5,690 shares of the software maker’s stock worth $1,766,000 after purchasing an additional 41 shares in the last quarter. Empowered Funds LLC increased its position in Paycom Software by 0.8% during the 1st quarter. Empowered Funds LLC now owns 5,043 shares of the software maker’s stock worth $1,533,000 after purchasing an additional 42 shares in the last quarter. Finally, LWM Advisory Services LLC raised its stake in Paycom Software by 4.7% in the 3rd quarter. LWM Advisory Services LLC now owns 962 shares of the software maker’s stock valued at $317,000 after purchasing an additional 43 shares during the last quarter. 74.73% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Price Performance

PAYC opened at $338.81 on Wednesday. Paycom Software, Inc. has a 52-week low of $262.11 and a 52-week high of $402.78. The company has a 50 day moving average of $298.94 and a two-hundred day moving average of $299.73. The company has a market cap of $20.43 billion, a P/E ratio of 63.57, a P/E/G ratio of 2.10 and a beta of 1.44. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly earnings results on Tuesday, May 2nd. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.06. Paycom Software had a net margin of 20.96% and a return on equity of 26.29%. The firm had revenue of $451.64 million during the quarter, compared to analysts’ expectations of $444.23 million. On average, analysts expect that Paycom Software, Inc. will post 6.2 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Tuesday, May 30th were paid a $0.375 dividend. The ex-dividend date was Friday, May 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.44%. Paycom Software’s dividend payout ratio (DPR) is currently 28.14%.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of recent research reports. TheStreet upgraded shares of Paycom Software from a “c+” rating to a “b-” rating in a report on Monday, July 3rd. Piper Sandler lowered their target price on shares of Paycom Software from $417.00 to $399.00 in a research note on Wednesday, May 3rd. BMO Capital Markets increased their price target on Paycom Software from $289.00 to $302.00 in a research note on Wednesday, May 3rd. William Blair began coverage on Paycom Software in a research report on Wednesday, June 28th. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Paycom Software from $400.00 to $370.00 in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Paycom Software has an average rating of “Moderate Buy” and a consensus target price of $368.53.

Insider Activity at Paycom Software

In other Paycom Software news, Director Jason D. Clark sold 430 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $278.99, for a total value of $119,965.70. Following the completion of the transaction, the director now owns 5,100 shares in the company, valued at approximately $1,422,849. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 14.50% of the company’s stock.

Paycom Software Company Profile

(Free Report)

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.