9,790 Shares in Paycom Software, Inc. $PAYC Bought by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,790 shares of the software maker’s stock, valued at approximately $1,190,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAYC. Mackenzie Financial Corp increased its holdings 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 acquiring an additional 63 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its holdings 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 purchasing an additional 86 shares during the last quarter. Lido Advisors LLC raised its position 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 purchasing an additional 87 shares during the period. Janus Henderson Group PLC lifted 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 buying an additional 88 shares during the last quarter. Finally, Evoke Wealth LLC lifted 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 buying an additional 90 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Barclays increased their target price on Paycom Software from $148.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. TD Cowen dropped their price target on Paycom Software from $154.00 to $149.00 and set a “buy” rating for the company in a report on Friday, June 26th. BTIG Research boosted their price target on Paycom Software from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Mizuho upped their price objective on Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.75.

Paycom Software Trading Up 4.6%

PAYC opened at $169.23 on Thursday. The company’s 50 day moving average is $138.02 and its 200-day moving average is $133.21. The company has a market cap of $8.06 billion, a P/E ratio of 19.56, a PEG ratio of 1.37 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $248.95. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.

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

Paycom Software Announces Dividend

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

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.