Horizon Investment Services LLC Makes New $2.74 Million Investment in Paycom Software, Inc. $PAYC

Horizon Investment Services LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,847 shares of the software maker’s stock, valued at approximately $2,741,000.

A number of other large investors also recently made changes to their positions in the company. Modera Wealth Management LLC boosted its stake in Paycom Software by 41.4% in the 2nd quarter. Modera Wealth Management LLC now owns 9,288 shares of the software maker’s stock valued at $2,149,000 after purchasing an additional 2,718 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in shares of Paycom Software by 2.6% during the second quarter. Resona Asset Management Co. Ltd. now owns 16,794 shares of the software maker’s stock worth $3,876,000 after buying an additional 419 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Paycom Software in the second quarter valued at about $1,228,000. Dillon & Associates Inc. boosted its position in shares of Paycom Software by 3.4% in the second quarter. Dillon & Associates Inc. now owns 61,457 shares of the software maker’s stock valued at $14,197,000 after acquiring an additional 2,016 shares during the period. Finally, Bryce Point Capital LLC acquired a new position in shares of Paycom Software in the second quarter valued at about $718,000. Institutional investors own 87.77% of the company’s stock.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.90% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC opened at $163.97 on Friday. Paycom Software, Inc. has a 52-week low of $156.50 and a 52-week high of $267.76. The business’s fifty day moving average is $207.15 and its 200-day moving average is $226.49. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.03 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). The business had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a return on equity of 24.83% and a net margin of 22.65%.Paycom Software’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. Paycom Software has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, November 24th. Paycom Software’s dividend payout ratio (DPR) is presently 20.30%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday. Barclays cut their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday. UBS Group lowered their price objective on Paycom Software from $285.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday. Guggenheim initiated coverage on Paycom Software in a report on Friday, September 26th. They issued a “buy” rating and a $270.00 price objective for the company. Finally, Mizuho reduced their target price on Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $225.77.

Paycom Software Company Profile

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.