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

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 72,100 shares of the software maker’s stock, valued at approximately $9,062,000. Connor Clark & Lunn Investment Management Ltd. owned 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. BlackRock Inc. acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $632,460,000. State Street Corp raised its holdings in shares of Paycom Software by 0.4% in the 4th quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock valued at $345,101,000 after purchasing an additional 8,419 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Paycom Software by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker’s stock valued at $265,419,000 after purchasing an additional 275,954 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Paycom Software by 28.2% in 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 in the last quarter. Finally, Reinhart Partners LLC. raised its holdings in shares of Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after purchasing an additional 204,191 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Up 2.9%

Shares of Paycom Software stock traded up $6.78 during trading hours on Thursday, hitting $243.03. The company’s stock had a trading volume of 28,490 shares, compared to its average volume of 1,278,218. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $244.98. The business has a fifty day moving average of $177.95 and a 200 day moving average of $146.04. The company has a market capitalization of $10.95 billion, a PE ratio of 25.96, a P/E/G ratio of 1.32 and a beta of 0.78. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 earnings per share. As a group, equities analysts forecast that Paycom Software, Inc. will post 10.65 EPS for the current year.

Paycom Software Dividend Announcement

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

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider directly owned 70,152 shares in the company, valued at $16,668,115.20. This represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Guggenheim lifted their price target on shares of Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. TD Cowen lifted their target price on shares of Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. BMO Capital Markets boosted their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Zacks Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $214.23.

Paycom Software 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.