Principal Financial Group Inc. Increases Stake in Paycom Software, Inc. $PAYC

Principal Financial Group Inc. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 290.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 243,762 shares of the software maker’s stock after buying an additional 181,346 shares during the quarter. Principal Financial Group Inc.’s holdings in Paycom Software were worth $29,627,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PAYC. Mackenzie Financial Corp grew its holdings in shares of Paycom Software by 4.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker’s stock worth $338,000 after acquiring an additional 63 shares during the period. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Paycom Software by 0.8% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 10,662 shares of the software maker’s stock valued at $1,699,000 after purchasing an additional 86 shares during the period. Lido Advisors LLC lifted its stake in shares of Paycom Software by 1.4% in the 4th quarter. Lido Advisors LLC now owns 6,286 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 87 shares during the period. Janus Henderson Group PLC boosted its position in shares of Paycom Software by 2.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,090 shares of the software maker’s stock valued at $652,000 after purchasing an additional 88 shares in the last quarter. Finally, Evoke Wealth LLC boosted its position in shares of Paycom Software by 2.8% during the fourth quarter. Evoke Wealth LLC now owns 3,335 shares of the software maker’s stock valued at $531,000 after purchasing an additional 90 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PAYC. Zacks Research raised Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. TD Cowen dropped their target price on shares of Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, June 26th. UBS Group decreased their price target 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. Barclays lowered their price target on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, BTIG Research boosted their price objective on shares of Paycom Software from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One equities research 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 company’s stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Moderate Buy” and an average target price of $159.25.

Paycom Software Stock Performance

Shares of PAYC opened at $148.44 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.07 billion, a PE ratio of 17.16, a P/E/G ratio of 1.26 and a beta of 0.80. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $248.95. The stock has a fifty day moving average price of $135.96 and a 200-day moving average price of $133.59.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.16. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The company had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. During the same period in the prior year, the company posted $2.80 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Paycom Software, Inc. will post 9.32 earnings per share for the current fiscal 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 given 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 yield of 1.0%. Paycom Software’s payout ratio is currently 17.34%.

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.