Riverbridge Partners LLC Sells 353,862 Shares of Paycom Software, Inc. $PAYC

Riverbridge Partners LLC cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 99.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,348 shares of the software maker’s stock after selling 353,862 shares during the quarter. Riverbridge Partners LLC’s holdings in Paycom Software were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Mackenzie Financial Corp increased its position in shares of Paycom Software by 4.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock worth $338,000 after purchasing an additional 63 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Paycom Software by 2.3% in the 4th quarter. Davis Investment Partners LLC now owns 2,988 shares of the software maker’s stock valued at $455,000 after buying an additional 68 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of Paycom Software by 2.9% in the 3rd quarter. Compound Planning Inc. now owns 2,899 shares of the software maker’s stock valued at $603,000 after buying an additional 83 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in shares of Paycom Software by 0.8% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock valued at $1,699,000 after buying an additional 86 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Paycom Software by 1.4% in the fourth quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock valued at $1,081,000 after buying an additional 87 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PAYC has been the topic of several analyst reports. BTIG Research upped their price target on shares of Paycom Software from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup lifted their price objective on shares of Paycom Software from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. BMO Capital Markets boosted their price objective on shares of Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. Barclays dropped their target price on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Finally, Mizuho lifted their price target on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $159.67.

Paycom Software Stock Up 2.4%

PAYC opened at $127.32 on Thursday. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $248.95. The stock’s fifty day simple moving average is $132.41 and its 200 day simple moving average is $136.56. 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 $6.06 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.08 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The firm had revenue of $571.80 million during the quarter, compared to analysts’ expectations of $564.37 million. During the same period in the previous year, the business posted $2.80 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Paycom Software, Inc. will post 9.16 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, May 26th. Paycom Software’s dividend payout ratio (DPR) is currently 17.34%.

Paycom Software Company 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.