Wellington Management Group LLP Buys 17,488 Shares of Paycom Software, Inc. $PAYC

Wellington Management Group LLP lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 168.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,862 shares of the software maker’s stock after purchasing an additional 17,488 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Paycom Software worth $3,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in Paycom Software by 190.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of 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 acquiring an additional 94 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Paycom Software during the second quarter valued at $29,000. Caitlin John LLC purchased a new position in shares of Paycom Software in the 2nd quarter worth about $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Paycom Software in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of analyst reports. BTIG Research raised their price objective on shares of Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald increased their price target on shares of Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. UBS Group raised their price target on shares of Paycom Software from $205.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Weiss Ratings upgraded shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Citigroup upped their price objective on Paycom Software from $136.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. One investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $214.23.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $214.94 on Thursday. The firm’s 50-day moving average price is $187.90 and its 200-day moving average price is $149.71. 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 company has a market cap of $9.69 billion, a PE ratio of 22.84, a PEG ratio of 1.22 and a beta of 0.78. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $244.98.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. The firm 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 earnings per share. As a group, analysts anticipate that Paycom Software, Inc. will post 10.65 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software’s payout ratio is 15.94%.

Insiders Place Their Bets

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the sale, the insider directly owned 69,911 shares in the company, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.20% of the company’s stock.

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.