Daiwa Securities Group Inc. Acquires 7,008 Shares of Paycom Software, Inc. $PAYC

Daiwa Securities Group Inc. raised its holdings in Paycom Software, Inc. (NYSE:PAYC) by 60.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,671 shares of the software maker’s stock after acquiring an additional 7,008 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Paycom Software were worth $2,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in Paycom Software in the fourth quarter worth $638,000. AQR Capital Management LLC raised its holdings in Paycom Software by 23.7% in 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 period. United Services Automobile Association acquired a new stake in Paycom Software in the first quarter worth $215,000. Empowered Funds LLC raised its holdings in Paycom Software by 22.8% in the first quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock worth $1,739,000 after purchasing an additional 1,480 shares during the period. Finally, Focus Partners Wealth raised its holdings in Paycom Software by 220.8% in the first quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock worth $861,000 after purchasing an additional 2,712 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Up 0.3%

Shares of NYSE:PAYC opened at $136.17 on Wednesday. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $258.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $130.52 and its 200 day simple moving average is $139.13. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.18 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. During the same period last year, the business posted $2.80 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Paycom Software, Inc. will post 9.16 EPS 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 dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, May 26th. Paycom Software’s dividend payout ratio (DPR) is presently 17.34%.

Wall Street Analyst Weigh In

PAYC has been the topic of several analyst reports. Guggenheim cut their target price on shares of Paycom Software from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. UBS Group cut their target price on shares of Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Mizuho increased their target price on shares of Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. BMO Capital Markets increased their target price on shares of Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $159.67.

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.