Berkeley Inc Buys 15,080 Shares of Paycom Software, Inc. $PAYC

Berkeley Inc grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 119.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,654 shares of the software maker’s stock after acquiring an additional 15,080 shares during the period. Paycom Software makes up approximately 1.9% of Berkeley Inc’s portfolio, making the stock its 24th biggest position. Berkeley Inc’s holdings in Paycom Software were worth $5,756,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in Paycom Software during the 4th quarter worth $638,000. AQR Capital Management LLC grew its holdings in shares of Paycom Software by 23.7% during the first quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock worth $4,136,000 after purchasing an additional 3,674 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Paycom Software in the first quarter valued at approximately $215,000. Empowered Funds LLC raised its holdings in Paycom Software by 22.8% in the 1st quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock valued at $1,739,000 after buying an additional 1,480 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Paycom Software by 220.8% in the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock valued at $861,000 after buying an additional 2,712 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Down 0.5%

NYSE:PAYC opened at $147.61 on Wednesday. Paycom Software, Inc. has a twelve month low of $145.61 and a twelve month high of $267.76. The company has a fifty day moving average of $160.45 and a 200-day moving average of $195.58. The firm has a market capitalization of $8.31 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.52 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The company had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. During the same period in the prior year, the company earned $1.67 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 24th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, November 24th. Paycom Software’s payout ratio is presently 18.66%.

Insiders Place Their Bets

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total value of $211,458.00. Following the transaction, the chief financial officer owned 14,747 shares in the company, valued at approximately $2,398,747.02. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of several recent research reports. Citigroup decreased their price target on shares of Paycom Software from $191.00 to $185.00 and set a “neutral” rating for the company in a research report on Tuesday, December 23rd. KeyCorp reduced their price objective on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. BTIG Research began coverage on Paycom Software in a research report on Wednesday, December 17th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, TD Cowen lowered their price objective on Paycom Software from $200.00 to $184.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $212.14.

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.