Neo Ivy Capital Management Makes New Investment in Paycom Software, Inc. $PAYC

Neo Ivy Capital Management purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, Holdings Channel reports. The firm purchased 568 shares of the software maker’s stock, valued at approximately $131,000.

A number of other hedge funds have also modified their holdings of PAYC. Ethic Inc. acquired a new position in shares of Paycom Software in the second quarter worth $566,000. United Asset Strategies Inc. purchased a new stake in Paycom Software during the 2nd quarter worth about $877,000. Aviva PLC increased its position in Paycom Software by 65.2% during the 2nd quarter. Aviva PLC now owns 34,129 shares of the software maker’s stock worth $7,897,000 after purchasing an additional 13,473 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Paycom Software during the 2nd quarter worth about $2,916,000. Finally, Nisa Investment Advisors LLC raised its stake in Paycom Software by 88.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,658 shares of the software maker’s stock valued at $3,392,000 after purchasing an additional 6,866 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $161.90 on Friday. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.88. Paycom Software, Inc. has a one year low of $156.50 and a one year high of $267.76. The company has a 50 day moving average price of $194.05 and a 200 day moving average price of $221.92.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $493.30 million for the quarter, compared to analysts’ expectations of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 24th. This represents a $1.50 annualized dividend and a yield of 0.9%. Paycom Software’s dividend payout ratio is currently 18.66%.

Analyst Upgrades and Downgrades

PAYC has been the topic of several analyst reports. TD Cowen decreased their price target on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Guggenheim initiated coverage on shares of Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 price objective on the stock. Mizuho lowered their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Barclays reduced their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Finally, KeyCorp decreased their price objective on Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $225.77.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.