Riverstone Advisors LLC Has $2.27 Million Stock Position in Paycom Software, Inc. $PAYC

Riverstone Advisors LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 4.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,823 shares of the software maker’s stock after selling 408 shares during the quarter. Paycom Software makes up approximately 1.2% of Riverstone Advisors LLC’s holdings, making the stock its 15th biggest holding. Riverstone Advisors LLC’s holdings in Paycom Software were worth $2,273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new stake in Paycom Software in the fourth quarter valued at $638,000. CWM LLC boosted its stake in shares of Paycom Software by 3.3% in the 1st quarter. CWM LLC now owns 2,081 shares of the software maker’s stock valued at $455,000 after purchasing an additional 66 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Paycom Software by 132.8% in the 1st quarter. Victory Capital Management Inc. now owns 18,809 shares of the software maker’s stock worth $4,109,000 after purchasing an additional 10,731 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Paycom Software by 21.5% in the 1st quarter. Allianz Asset Management GmbH now owns 6,786 shares of the software maker’s stock worth $1,483,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of Paycom Software during the 1st quarter worth about $526,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays reduced their price target on shares of Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Zacks Research raised shares of Paycom Software from a “strong sell” rating to a “hold” rating in a report on Thursday. UBS Group reduced their target price on Paycom Software from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. TD Cowen decreased their price target on Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Jefferies Financial Group dropped their price target on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $225.77.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.90% of the stock is owned by company insiders.

Paycom Software Trading Up 1.2%

Shares of PAYC stock opened at $161.90 on Friday. Paycom Software, Inc. has a 1 year low of $156.50 and a 1 year high of $267.76. The firm’s 50 day moving average is $194.05 and its 200-day moving average is $221.97. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.74 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The company had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. During the same period in the prior year, the business earned $1.67 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Paycom Software has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. Paycom Software’s payout ratio is presently 18.66%.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.