Riverbridge Partners LLC Has $56.93 Million Stock Position in Paycom Software, Inc. $PAYC

Riverbridge Partners LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,210 shares of the software maker’s stock after selling 87,554 shares during the period. Riverbridge Partners LLC owned about 0.63% of Paycom Software worth $56,925,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PAYC. Allianz Asset Management GmbH grew its stake in Paycom Software by 10,106.6% in the third quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock valued at $101,355,000 after acquiring an additional 482,186 shares during the period. Two Sigma Investments LP raised its position in shares of Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock worth $110,756,000 after purchasing an additional 370,219 shares during the period. Woodline Partners LP acquired a new stake in shares of Paycom Software during the third quarter worth about $58,452,000. Freestone Grove Partners LP bought a new position in shares of Paycom Software during the 3rd quarter valued at about $42,414,000. Finally, Vanguard Group Inc. grew its position in shares of Paycom Software by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock valued at $1,207,792,000 after purchasing an additional 179,218 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PAYC. Citigroup dropped their target price on shares of Paycom Software from $185.00 to $128.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. BMO Capital Markets lowered their price objective on shares of Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Weiss Ratings cut shares of Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 3rd. Cantor Fitzgerald upped their target price on shares of Paycom Software from $115.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Finally, UBS Group dropped their price target on Paycom Software from $245.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $170.71.

Paycom Software Trading Up 2.5%

Paycom Software stock opened at $122.84 on Friday. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $267.76. The company has a fifty day simple moving average of $130.39 and a 200 day simple moving average of $163.96. The company has a market cap of $6.67 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, topping the consensus estimate of $2.44 by $0.01. The firm had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $542.79 million. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.32 EPS. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.50 annualized dividend and a yield of 1.2%. Paycom Software’s dividend payout ratio is 18.54%.

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.