Man Group plc Invests $9.70 Million in Paycom Software, Inc. $PAYC

Man Group plc 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 77,152 shares of the software maker’s stock, valued at approximately $9,696,000. Man Group plc owned 0.17% 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 position in Paycom Software in the second quarter valued at $632,460,000. State Street Corp boosted its holdings in Paycom Software by 0.4% during the fourth quarter. State Street Corp now owns 2,165,546 shares of the software maker’s stock worth $345,101,000 after buying an additional 8,419 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Paycom Software by 19.9% in the fourth 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. lifted its holdings in shares of Paycom Software by 28.2% in the fourth 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. lifted its stake in shares of Paycom Software by 20.1% during the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after buying an additional 204,191 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Paycom Software

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Stifel Nicolaus increased their price objective on shares of Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald upped their target price on shares of Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $214.23.

Paycom Software Stock Performance

Shares of PAYC stock traded up $6.78 during trading hours on Thursday, reaching $243.03. The stock had a trading volume of 28,490 shares, compared to its average volume of 1,278,218. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $244.98. The firm has a 50-day simple moving average of $177.95 and a 200-day simple moving average of $146.04. The firm has a market capitalization of $10.95 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78.

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

Paycom Software Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. Paycom Software’s payout ratio is currently 15.94%.

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.