MidFirst Bank Buys Shares of 5,035 Paycom Software, Inc. $PAYC

MidFirst Bank purchased a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,035 shares of the software maker’s stock, valued at approximately $802,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Paycom Software by 3.2% during the third quarter. Vanguard Group Inc. now owns 5,802,788 shares of the software maker’s stock valued at $1,207,792,000 after acquiring an additional 179,218 shares during the last quarter. State Street Corp boosted its position in Paycom Software by 0.4% in the fourth quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock worth $345,101,000 after purchasing an additional 8,419 shares during the last quarter. First Trust Advisors LP boosted its position in Paycom Software by 19.9% in the fourth quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock worth $265,419,000 after purchasing an additional 275,954 shares during the last quarter. Invesco Ltd. grew its stake in shares of Paycom Software by 28.2% during the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Paycom Software by 12.7% during the 4th quarter. Federated Hermes Inc. now owns 624,371 shares of the software maker’s stock valued at $99,500,000 after purchasing an additional 70,208 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of PAYC opened at $124.66 on Friday. The business has a 50-day simple moving average of $131.85 and a two-hundred day simple moving average of $137.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $248.95. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.08 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. The firm had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. On average, analysts expect that Paycom Software, Inc. will post 9.16 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders 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 annualized dividend and a yield of 1.2%. Paycom Software’s payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAYC. TD Cowen upped their price target on shares of Paycom Software from $148.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Citigroup boosted their target price on shares of Paycom Software from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. BTIG Research upped their target price on shares of Paycom Software from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays decreased their price target on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Finally, Mizuho lifted their price target on shares of Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $159.67.

Paycom Software Company 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.