Assenagon Asset Management S.A. Sells 3,804 Shares of Paycom Software, Inc. $PAYC

Assenagon Asset Management S.A. lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 34.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,250 shares of the software maker’s stock after selling 3,804 shares during the period. Assenagon Asset Management S.A.’s holdings in Paycom Software were worth $1,509,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PAYC. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 165,647 shares during the period. State Street Corp grew its holdings in Paycom Software by 8.4% during the second quarter. State Street Corp now owns 2,097,910 shares of the software maker’s stock valued at $485,456,000 after purchasing an additional 162,477 shares during the period. Geode Capital Management LLC grew its holdings in Paycom Software by 5.3% during the second quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock valued at $383,265,000 after purchasing an additional 83,154 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Paycom Software by 17.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 633,692 shares of the software maker’s stock worth $146,636,000 after buying an additional 96,138 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Paycom Software by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker’s stock valued at $138,435,000 after buying an additional 69,884 shares during the period. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PAYC. Guggenheim began coverage on Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 price target for the company. Barclays cut their target price on shares of Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered 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 report on Thursday, November 6th. Mizuho dropped their price target on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, TD Cowen reduced their price objective on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $221.00.

Paycom Software Trading Up 0.5%

Paycom Software stock opened at $160.40 on Thursday. Paycom Software, Inc. has a 1-year low of $156.50 and a 1-year high of $267.76. The firm has a market capitalization of $9.03 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.74 and a beta of 0.84. The firm’s 50 day simple moving average is $172.86 and its 200 day simple moving average is $206.69.

Paycom Software (NYSE:PAYC) last announced its quarterly 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). The firm had revenue of $493.30 million during the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. Research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Insider Buying and Selling at Paycom Software

In other news, CFO Robert D. Foster sold 1,300 shares of Paycom Software stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total transaction of $211,458.00. Following the completion of the sale, the chief financial officer owned 14,747 shares in the company, valued at approximately $2,398,747.02. This trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.90% of the stock is currently owned by insiders.

Paycom Software Profile

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.