Connor Clark & Lunn Investment Management Ltd. Makes New $9.06 Million Investment in Paycom Software, Inc. $PAYC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 72,100 shares of the software maker’s stock, valued at approximately $9,062,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Paycom Software at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Brown Brothers Harriman & Co. boosted its position in Paycom Software by 190.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock worth $25,000 after purchasing an additional 101 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Paycom Software by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Paycom Software in the 2nd quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Paycom Software in the second quarter worth approximately $33,000. Finally, MUFG Securities EMEA plc acquired a new stake in Paycom Software during the 2nd quarter worth $33,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on PAYC. BMO Capital Markets upped their target price on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. KeyCorp upped their price objective on shares of Paycom Software from $195.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Barclays increased their target price on Paycom Software from $154.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. UBS Group raised their price target on shares of Paycom Software from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Mizuho lifted their price objective on Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.08.

Paycom Software Stock Performance

NYSE:PAYC opened at $231.79 on Thursday. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $233.46. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The stock has a market cap of $10.45 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.31 and a beta of 0.76. The firm’s fifty day simple moving average is $166.68 and its 200-day simple moving average is $142.06.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The business had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter last year, the business posted $2.06 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 24th. Paycom Software’s dividend payout ratio is presently 15.94%.

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.