Riverbridge Partners LLC Sells 353,862 Shares of Paycom Software, Inc. $PAYC

Riverbridge Partners LLC decreased its stake in Paycom Software, Inc. (NYSE:PAYC) by 99.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,348 shares of the software maker’s stock after selling 353,862 shares during the quarter. Riverbridge Partners LLC’s holdings in Paycom Software were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sienna Gestion bought a new stake in shares of Paycom Software in the third quarter worth about $4,515,000. Willis Investment Counsel lifted its holdings in shares of Paycom Software by 122.2% during the 4th quarter. Willis Investment Counsel now owns 22,100 shares of the software maker’s stock valued at $3,522,000 after purchasing an additional 12,156 shares in the last quarter. Berkeley Inc lifted its holdings in shares of Paycom Software by 47.5% during the 4th quarter. Berkeley Inc now owns 40,794 shares of the software maker’s stock valued at $6,501,000 after purchasing an additional 13,140 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Paycom Software by 203.1% in the 4th quarter. Nordea Investment Management AB now owns 190,276 shares of the software maker’s stock valued at $30,336,000 after purchasing an additional 127,493 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in Paycom Software during the 4th quarter worth approximately $1,911,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 2.4%

NYSE PAYC opened at $127.32 on Thursday. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 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 stock’s 50 day moving average price is $132.41 and its two-hundred day moving average price is $136.56. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.08 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The company had revenue of $571.80 million during the quarter, compared to analysts’ expectations of $564.37 million. During the same period last year, the business earned $2.80 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Paycom Software, Inc. will post 9.16 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.50 dividend on an annualized basis and a yield of 1.2%. Paycom Software’s dividend payout ratio (DPR) is 17.34%.

Analyst Ratings Changes

PAYC has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Paycom Software from $137.00 to $145.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. Citigroup increased their price objective on shares of Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Barclays cut their price objective 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, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paycom Software in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.67.

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.