Connor Clark & Lunn Investment Management Ltd. Invests $9.06 Million in Paycom Software, Inc. $PAYC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 72,100 shares of the software maker’s stock, valued at approximately $9,062,000.

A number of other institutional investors have also recently added to or reduced their stakes in PAYC. BlackRock Inc. bought a new position in Paycom Software in the 2nd quarter worth about $632,460,000. Reinhart Partners LLC. raised its stake in shares of Paycom Software by 887.4% during the fourth quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock valued at $95,351,000 after purchasing an additional 537,726 shares in the last quarter. Contour Asset Management LLC acquired a new stake in Paycom Software in the fourth quarter worth about $60,333,000. Two Sigma Investments LP increased its stake in Paycom Software by 228.7% during the 3rd quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after buying an additional 370,219 shares during the period. Finally, Invesco Ltd. increased its stake in Paycom Software by 28.2% during the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after buying an additional 343,494 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PAYC. Barclays boosted their price target on shares of Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Weiss Ratings raised Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group raised their price target on shares of Paycom Software from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Mizuho boosted their target price on Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, BTIG Research boosted their target price on shares of Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.08.

Paycom Software Trading Up 0.0%

NYSE:PAYC opened at $231.79 on Thursday. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $233.46. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.31 and a beta of 0.76. 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 $166.68 and its 200-day moving average is $142.06.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the firm earned $2.06 EPS. Paycom Software’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Paycom Software, Inc. will post 10.48 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. Paycom Software’s payout ratio is currently 15.94%.

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.