Harbor Capital Advisors Inc. Makes New $1.91 Million Investment in Paycom Software, Inc. $PAYC

Harbor Capital Advisors Inc. bought a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,991 shares of the software maker’s stock, valued at approximately $1,911,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. True Wealth Design LLC increased its holdings in Paycom Software by 946.7% during the 4th quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock valued at $25,000 after acquiring an additional 142 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Paycom Software in the third quarter valued at about $29,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Paycom Software in the second quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Paycom Software in the third quarter valued at approximately $31,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research reports. Weiss Ratings downgraded Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group lowered their target price on Paycom Software from $190.00 to $130.00 and set a “hold” rating on the stock in a report on Thursday, February 12th. Zacks Research raised Paycom Software from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. BMO Capital Markets cut their price target on Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Finally, BTIG Research decreased their price objective on Paycom Software from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $170.71.

Paycom Software Stock Down 0.2%

Shares of PAYC opened at $123.37 on Friday. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $267.76. The company’s fifty day moving average is $126.96 and its two-hundred day moving average is $159.36. The firm has a market cap of $6.70 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. The business had revenue of $544.30 million during the quarter, compared to the consensus estimate of $542.79 million. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 EPS. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, March 9th. This represents a $1.50 annualized dividend and a yield of 1.2%. Paycom Software’s dividend payout ratio is currently 18.54%.

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.