Spire Wealth Management Sells 1,404 Shares of Paycom Software, Inc. $PAYC

Spire Wealth Management cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 77.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 406 shares of the software maker’s stock after selling 1,404 shares during the quarter. Spire Wealth Management’s holdings in Paycom Software were worth $94,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PAYC. Brooklyn Investment Group grew its stake in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the last quarter. Commerce Bank boosted its holdings in shares of Paycom Software by 2.2% in the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock valued at $514,000 after buying an additional 50 shares in the last quarter. Allworth Financial LP grew its position in shares of Paycom Software by 12.9% in the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock worth $105,000 after buying an additional 53 shares during the last quarter. US Bancorp DE raised its stake in shares of Paycom Software by 0.5% during the 1st quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock worth $2,277,000 after acquiring an additional 57 shares in the last quarter. Finally, Burns Matteson Capital Management LLC lifted its position in Paycom Software by 2.5% during the first quarter. Burns Matteson Capital Management LLC now owns 2,348 shares of the software maker’s stock valued at $513,000 after acquiring an additional 58 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Up 1.0%

Shares of PAYC stock opened at $183.73 on Thursday. Paycom Software, Inc. has a 52-week low of $180.52 and a 52-week high of $267.76. The stock has a market cap of $10.63 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.01 and a beta of 0.88. The business has a 50-day simple moving average of $208.39 and a 200-day simple moving average of $226.92.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $493.30 million for the quarter, compared to analysts’ expectations of $492.62 million. During the same quarter in the prior year, the business posted $1.67 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. Paycom Software has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.8%. Paycom Software’s dividend payout ratio is 20.30%.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Jefferies Financial Group lowered their price target on Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a report on Monday, October 13th. KeyCorp upped their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Guggenheim assumed coverage on shares of Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 target price on the stock. Finally, Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average target price of $243.69.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.