Fifth Third Bancorp Grows Stake in Paycom Software, Inc. $PAYC

Fifth Third Bancorp raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 874.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,545 shares of the software maker’s stock after purchasing an additional 23,822 shares during the period. Fifth Third Bancorp owned about 0.06% of Paycom Software worth $3,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at about $638,000. AQR Capital Management LLC boosted its stake in shares of Paycom Software by 23.7% during the first quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock valued at $4,136,000 after purchasing an additional 3,674 shares in the last quarter. United Services Automobile Association bought a new position in shares of Paycom Software during the first quarter valued at approximately $215,000. Empowered Funds LLC increased its holdings in Paycom Software by 22.8% during the first quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock valued at $1,739,000 after buying an additional 1,480 shares during the period. Finally, Focus Partners Wealth increased its holdings in Paycom Software by 220.8% during the first quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock valued at $861,000 after buying an additional 2,712 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Price Performance

Shares of PAYC stock opened at $148.44 on Monday. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $248.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.26 and a beta of 0.80. The stock’s 50-day simple moving average is $135.96 and its 200-day simple moving average is $133.59.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, beating the consensus estimate of $2.99 by $0.16. The firm had revenue of $571.80 million during the quarter, compared to analyst estimates of $564.37 million. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. Paycom Software’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $2.80 EPS. As a group, equities analysts forecast that Paycom Software, Inc. will post 9.32 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.0%. Paycom Software’s payout ratio is 17.34%.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of analyst reports. Weiss Ratings upgraded Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. BTIG Research raised their price objective on Paycom Software from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. TD Cowen cut their target price on Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Barclays reduced their target price on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Finally, UBS Group reduced their price objective on shares of Paycom Software from $210.00 to $183.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $159.25.

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.