Paycom Software, Inc. $PAYC Shares Sold by Associated Banc Corp

Associated Banc Corp trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 40.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,712 shares of the software maker’s stock after selling 61,220 shares during the period. Associated Banc Corp owned about 0.16% of Paycom Software worth $20,991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new stake in Paycom Software during the 1st quarter worth about $114,440,000. Jennison Associates LLC purchased a new position in Paycom Software during the 2nd quarter worth approximately $49,853,000. Vanguard Group Inc. raised its stake in Paycom Software by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 5,623,570 shares of the software maker’s stock valued at $1,301,294,000 after purchasing an additional 165,647 shares during the period. SG Americas Securities LLC raised its stake in Paycom Software by 5,691.0% during the 2nd quarter. SG Americas Securities LLC now owns 155,489 shares of the software maker’s stock valued at $35,980,000 after purchasing an additional 152,804 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Paycom Software in the first quarter valued at $26,177,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAYC. Jefferies Financial Group dropped their price target on Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. dropped their price target on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Mizuho dropped their price objective on Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, TD Cowen cut their target price on Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $225.77.

Paycom Software Trading Down 1.8%

NYSE PAYC opened at $159.28 on Tuesday. Paycom Software, Inc. has a 1-year low of $156.50 and a 1-year high of $267.76. The company has a 50 day moving average of $192.86 and a 200-day moving average of $221.24. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.76 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The business had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. During the same period in the previous year, the firm earned $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. On average, analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio (DPR) is 18.66%.

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.