PNC Financial Services Group Inc. Purchases 9,028 Shares of Paycom Software, Inc. $PAYC

PNC Financial Services Group Inc. increased its position in Paycom Software, Inc. (NYSE:PAYC) by 165.8% in the 1st quarter, HoldingsChannel reports. The fund owned 14,472 shares of the software maker’s stock after purchasing an additional 9,028 shares during the period. PNC Financial Services Group Inc.’s holdings in Paycom Software were worth $1,759,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Paycom Software in the fourth quarter worth about $638,000. AQR Capital Management LLC lifted its stake in shares of Paycom Software by 23.7% during the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock valued at $4,136,000 after buying an additional 3,674 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Paycom Software during the 1st quarter valued at approximately $215,000. Empowered Funds LLC boosted its holdings in Paycom Software by 22.8% in the 1st quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock worth $1,739,000 after buying an additional 1,480 shares during the period. Finally, Focus Partners Wealth boosted its holdings in Paycom Software by 220.8% in the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock worth $861,000 after buying an additional 2,712 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Paycom Software from $148.00 to $154.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. BTIG Research raised their price target on Paycom Software from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. BMO Capital Markets lifted their price target on Paycom Software from $137.00 to $145.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. UBS Group decreased their price objective on Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, TD Cowen decreased their price objective on Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Moderate Buy” and a consensus target price of $159.75.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $161.45 on Friday. The company has a 50 day moving average of $138.57 and a 200 day moving average of $133.24. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.69 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.43 and a beta of 0.80. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $248.95.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $564.37 million. During the same period in the prior year, the company posted $2.80 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 9.37 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio is presently 17.34%.

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.