Allworth Financial LP Has $190,000 Holdings in Paycom Software, Inc. $PAYC

Allworth Financial LP grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 76.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 820 shares of the software maker’s stock after purchasing an additional 356 shares during the period. Allworth Financial LP’s holdings in Paycom Software were worth $190,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Kingsview Wealth Management LLC boosted its stake in shares of Paycom Software by 8.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after buying an additional 114 shares during the period. Ethic Inc. purchased a new stake in shares of Paycom Software during the second quarter worth $566,000. Aviva PLC boosted its position in Paycom Software by 65.2% during the second quarter. Aviva PLC now owns 34,129 shares of the software maker’s stock valued at $7,897,000 after purchasing an additional 13,473 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in Paycom Software in the second quarter valued at about $2,916,000. Finally, Nisa Investment Advisors LLC increased its position in Paycom Software by 88.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,658 shares of the software maker’s stock worth $3,392,000 after purchasing an additional 6,866 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PAYC. Barclays reduced their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Zacks Research cut shares of Paycom Software from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. decreased their target price on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. KeyCorp dropped their price target 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. Finally, UBS Group reduced their price objective on shares of Paycom Software from $285.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target of $225.77.

Paycom Software Trading Down 1.6%

Shares of Paycom Software stock opened at $161.40 on Wednesday. The firm has a fifty day simple moving average of $197.80 and a 200-day simple moving average of $223.29. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.79 and a beta of 0.88. Paycom Software, Inc. has a 1-year low of $156.50 and a 1-year high of $267.76.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The firm had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. As a group, research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 24th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 24th. Paycom Software’s payout ratio is currently 18.66%.

Paycom Software Company Profile

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.