Legal & General Group Plc Invests $12.01 Million in Paycom Software, Inc. $PAYC

Legal & General Group Plc bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 95,536 shares of the software maker’s stock, valued at approximately $12,007,000. Legal & General Group Plc owned approximately 0.21% of Paycom Software at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Paycom Software during the second quarter worth approximately $632,460,000. State Street Corp lifted its stake in shares of Paycom Software by 0.4% in the 4th quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock valued at $345,101,000 after purchasing an additional 8,419 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Paycom Software by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock valued at $265,419,000 after purchasing an additional 275,954 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Paycom Software by 28.2% in the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, Reinhart Partners LLC. increased its position in shares of Paycom Software by 20.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after purchasing an additional 204,191 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BTIG Research increased their price target on Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. TD Cowen increased their target price on shares of Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. UBS Group raised their target price 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. Finally, Wall Street Zen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $208.08.

Insiders Place Their Bets

In related news, insider Terrell Shane Hadlock sold 241 shares of Paycom Software stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares in the company, valued at $16,783,533.77. This trade represents a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.20% of the stock is owned by insiders.

Paycom Software Price Performance

PAYC opened at $239.06 on Tuesday. The business has a fifty day moving average of $173.53 and a 200 day moving average of $144.39. The stock has a market cap of $10.77 billion, a P/E ratio of 25.40, a PEG ratio of 1.32 and a beta of 0.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $242.50.

Paycom Software (NYSE:PAYC) last released 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. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter last year, the firm posted $2.06 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 10.65 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 24th. Paycom Software’s dividend payout ratio (DPR) is currently 15.94%.

About Paycom Software

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.