Rhumbline Advisers Has $29.54 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Posted by Defense World Staff on Aug 28th, 2023

Rhumbline Advisers boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 6.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,182 shares of the software maker’s stock after buying an additional 6,162 shares during the period. Rhumbline Advisers owned approximately 0.16% of Paycom Software worth $29,544,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PAYC. Compagnie Lombard Odier SCmA bought a new position in shares of Paycom Software in the fourth quarter worth about $26,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Paycom Software in the 4th quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in Paycom Software in the 1st quarter valued at $26,000. HHM Wealth Advisors LLC lifted its stake in Paycom Software by 350.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock valued at $27,000 after acquiring an additional 70 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Paycom Software by 466.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 102 shares of the software maker’s stock valued at $31,000 after acquiring an additional 84 shares in the last quarter. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In other news, EVP Christopher Gene Thomas sold 320 shares of Paycom Software stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $290.05, for a total value of $92,816.00. Following the completion of the transaction, the executive vice president now owns 26,154 shares in the company, valued at approximately $7,585,967.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 14.50% of the stock is owned by corporate insiders.

Paycom Software Trading Up 0.6 %

Paycom Software stock opened at $286.39 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.24 and a quick ratio of 1.24. Paycom Software, Inc. has a one year low of $262.11 and a one year high of $375.84. The stock has a market capitalization of $17.32 billion, a PE ratio of 52.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. The business’s fifty day moving average is $320.09 and its 200 day moving average is $301.56.

Paycom Software (NYSE:PAYC – Get Free Report) last posted its earnings results on Tuesday, August 1st. The software maker reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.22). Paycom Software had a net margin of 20.28% and a return on equity of 24.93%. The firm had revenue of $401.14 million during the quarter, compared to the consensus estimate of $398.20 million. On average, sell-side analysts predict that Paycom Software, Inc. will post 6.1 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 28th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, August 25th. Paycom Software’s dividend payout ratio (DPR) is presently 27.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp dropped their price objective on Paycom Software from $432.00 to $405.00 in a research note on Wednesday, May 3rd. Credit Suisse Group lifted their target price on Paycom Software from $375.00 to $395.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. William Blair initiated coverage on Paycom Software in a report on Wednesday, June 28th. They set an “outperform” rating for the company. BMO Capital Markets boosted their price objective on Paycom Software from $340.00 to $356.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $399.00 target price on shares of Paycom Software in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $384.53.

View Our Latest Stock Report on PAYC

Paycom Software 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.