Charles Schwab Investment Management Inc. Boosts Stock Position in Paycom Software, Inc. $PAYC

Charles Schwab Investment Management Inc. grew its position in Paycom Software, Inc. (NYSE:PAYC) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 518,932 shares of the software maker’s stock after purchasing an additional 16,587 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of Paycom Software worth $120,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYC. Brooklyn Investment Group increased its holdings in Paycom Software by 19.4% in the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after buying an additional 39 shares during the period. 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 acquiring an additional 50 shares during the last quarter. US Bancorp DE increased its stake in shares of Paycom Software by 0.5% in the first 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 during the period. Applied Finance Capital Management LLC raised its holdings in shares of Paycom Software by 4.3% during the second quarter. Applied Finance Capital Management LLC now owns 1,425 shares of the software maker’s stock worth $330,000 after purchasing an additional 59 shares during the last quarter. Finally, Wallace Advisory Group LLC raised its holdings in shares of Paycom Software by 2.7% during the second quarter. Wallace Advisory Group LLC now owns 2,262 shares of the software maker’s stock worth $494,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Down 2.2%

Shares of NYSE PAYC opened at $160.79 on Friday. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88. The company’s 50-day simple moving average is $189.67 and its 200-day simple moving average is $219.78. Paycom Software, Inc. has a 52-week low of $156.50 and a 52-week high of $267.76.

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

Paycom Software Dividend Announcement

The company also recently declared 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 of this dividend is Monday, November 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. Paycom Software’s payout ratio is currently 18.66%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PAYC. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Zacks Research upgraded Paycom Software from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Jefferies Financial Group reduced their price target on Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. UBS Group lowered their price objective on Paycom Software from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, BMO Capital Markets upped their price objective 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. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $225.77.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.90% of the company’s stock.

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.