Wellington Management Group LLP Grows Stock Position in Paycom Software, Inc. $PAYC

Wellington Management Group LLP lifted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 168.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,862 shares of the software maker’s stock after purchasing an additional 17,488 shares during the period. Wellington Management Group LLP’s holdings in Paycom Software were worth $3,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in Paycom Software by 4.0% during the third quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock valued at $338,000 after buying an additional 63 shares during the period. Boyd Watterson Asset Management LLC OH raised its position in 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 worth $1,699,000 after acquiring an additional 86 shares during the period. Lido Advisors LLC raised its position in Paycom Software by 1.4% in the fourth quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock worth $1,081,000 after acquiring an additional 87 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Paycom Software by 2.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock worth $652,000 after acquiring an additional 88 shares during the last quarter. Finally, Evoke Wealth LLC boosted its stake in shares of Paycom Software by 2.8% during the 4th quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock worth $531,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $214.94 on Thursday. The stock has a market cap of $9.69 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $244.98. The firm has a fifty day moving average price of $187.90 and a 200-day moving average price of $149.71. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

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, beating analysts’ consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 EPS. Equities analysts anticipate that Paycom Software, Inc. will post 10.65 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 24th. Paycom Software’s payout ratio is presently 15.94%.

Insider Buying and Selling at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Barclays lifted their target price on Paycom Software from $154.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. BTIG Research boosted 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. BMO Capital Markets upped their price target on Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings raised Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $214.23.

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.