Allspring Global Investments Holdings LLC Has $2.38 Million Holdings in Paycom Software, Inc. $PAYC

Allspring Global Investments Holdings LLC cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 42.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,936 shares of the software maker’s stock after selling 8,696 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Paycom Software were worth $2,378,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PAYC. CYBER HORNET ETFs LLC acquired a new position in Paycom Software in the second quarter worth approximately $29,000. MUFG Securities EMEA plc acquired a new position in shares of Paycom Software during the 2nd quarter worth $33,000. Blue Trust Inc. raised its holdings in shares of Paycom Software by 540.6% during the 3rd quarter. Blue Trust Inc. now owns 205 shares of the software maker’s stock valued at $43,000 after purchasing an additional 173 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Paycom Software by 651.9% in the 2nd quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock valued at $47,000 after purchasing an additional 176 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $55,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PAYC. Zacks Research upgraded Paycom Software from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. JPMorgan Chase & Co. cut their price objective on Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Citigroup lowered their price target on Paycom Software from $191.00 to $185.00 and set a “neutral” rating on the stock in a report on Tuesday, December 23rd. Finally, Jefferies Financial Group reduced their price objective on shares of Paycom Software from $225.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $219.86.

Insider Buying and Selling

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

Paycom Software Trading Up 0.6%

Shares of PAYC stock opened at $157.78 on Friday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. Paycom Software, Inc. has a 1 year low of $151.74 and a 1 year high of $267.76. The firm’s fifty day simple moving average is $163.97 and its 200 day simple moving average is $200.35.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. 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 was paid on Monday, December 8th. Investors of record on Monday, November 24th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, November 24th. Paycom Software’s payout ratio is currently 18.66%.

About Paycom Software

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.