Dakota Wealth Management Grows Stock Position in Paycom Software, Inc. $PAYC

Dakota Wealth Management grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,583 shares of the software maker’s stock after acquiring an additional 4,714 shares during the quarter. Dakota Wealth Management’s holdings in Paycom Software were worth $6,366,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new position in shares of Paycom Software in the 2nd quarter valued at approximately $29,000. MUFG Securities EMEA plc acquired a new position in Paycom Software during the 2nd quarter valued at approximately $33,000. Steigerwald Gordon & Koch Inc. acquired a new position in Paycom Software during the 3rd quarter valued at approximately $31,000. Bogart Wealth LLC raised its holdings in shares of Paycom Software by 100.0% in the third quarter. Bogart Wealth LLC now owns 200 shares of the software maker’s stock worth $42,000 after buying an additional 100 shares during the last quarter. Finally, Avalon Trust Co acquired a new stake in shares of Paycom Software during the third quarter worth $42,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 4.2%

Shares of PAYC opened at $119.24 on Wednesday. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.24 and a beta of 0.79. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $267.76. The stock’s 50-day moving average price is $144.07 and its 200-day moving average price is $178.03.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The company had revenue of $544.30 million during the quarter, compared to the consensus estimate of $542.79 million. During the same period in the previous year, the company posted $2.32 earnings per share. Paycom Software’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 9th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.50 dividend on an annualized basis and a yield of 1.3%. Paycom Software’s dividend payout ratio is 18.54%.

Insider Transactions at Paycom Software

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PAYC shares. Citigroup dropped their price objective on shares of Paycom Software from $185.00 to $128.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. TD Cowen dropped their price target on Paycom Software from $200.00 to $184.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. UBS Group cut their price objective on Paycom Software from $245.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, January 26th. BMO Capital Markets reduced their price objective on Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. dropped their target price on Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $168.57.

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.