Royal Bank of Canada Trims Position in Paycom Software, Inc. $PAYC

Royal Bank of Canada decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 64.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 57,053 shares of the software maker’s stock after selling 104,059 shares during the period. Royal Bank of Canada’s holdings in Paycom Software were worth $6,934,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its stake in Paycom Software by 4.0% in the 3rd quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock worth $338,000 after acquiring an additional 63 shares in the last quarter. Boyd Watterson Asset Management LLC OH increased its position in shares of Paycom Software by 0.8% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock worth $1,699,000 after acquiring an additional 86 shares during the period. Lido Advisors LLC raised its stake in shares of Paycom Software by 1.4% during the fourth quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock valued at $1,081,000 after acquiring an additional 87 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Paycom Software by 2.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock valued at $652,000 after acquiring an additional 88 shares in the last quarter. Finally, Evoke Wealth LLC boosted its holdings in shares of Paycom Software by 2.8% in the fourth quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock valued at $531,000 after purchasing an additional 90 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of PAYC stock opened at $212.12 on Wednesday. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.31 and a beta of 0.76. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $234.60. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The company’s 50 day moving average is $147.16 and its 200 day moving average is $135.51.

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, topping analysts’ consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.Paycom Software’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 9.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 24th. Paycom Software’s dividend payout ratio is 15.94%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several research analyst reports. Citigroup increased their price objective on Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Mizuho upped their target price on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. BTIG Research raised their price target on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, UBS Group lifted their price objective on Paycom Software from $195.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average price target of $204.69.

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.