Harbor Capital Advisors Inc. Purchases New Stake in Paycom Software, Inc. $PAYC

Harbor Capital Advisors Inc. acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,991 shares of the software maker’s stock, valued at approximately $1,911,000.

Several other large investors also recently made changes to their positions in PAYC. Blue Trust Inc. lifted its holdings in shares of Paycom Software by 207.3% during the 4th quarter. Blue Trust Inc. now owns 630 shares of the software maker’s stock valued at $100,000 after acquiring an additional 425 shares in the last quarter. Tema Etfs LLC purchased a new position in Paycom Software in the fourth quarter valued at about $63,000. Three Seasons Wealth LLC raised its position in Paycom Software by 6.2% in the fourth quarter. Three Seasons Wealth LLC now owns 3,028 shares of the software maker’s stock valued at $483,000 after purchasing an additional 178 shares during the period. Birch Financial Group LLC lifted its stake in shares of Paycom Software by 12.3% during the fourth quarter. Birch Financial Group LLC now owns 3,277 shares of the software maker’s stock worth $522,000 after purchasing an additional 360 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Paycom Software by 1.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 19,859 shares of the software maker’s stock worth $3,165,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $123.37 on Friday. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $267.76. The stock’s 50-day simple moving average is $126.96 and its 200-day simple moving average is $159.36. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.30 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 11th. The software maker reported $2.45 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 firm had revenue of $544.30 million during the quarter, compared to the consensus estimate of $542.79 million. During the same quarter in the prior year, the business 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, research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, March 9th. Paycom Software’s dividend payout ratio is 18.54%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PAYC. Jefferies Financial Group lowered their target price on Paycom Software from $190.00 to $130.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. KeyCorp decreased their price target on Paycom Software from $250.00 to $195.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Mizuho lowered their price objective on shares of Paycom Software from $180.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. 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 research note on Friday, February 13th. Finally, Barclays boosted their target price on shares of Paycom Software from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $170.71.

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.