Atlantic Union Bankshares Corp Takes $1.23 Million Position in Paycom Software, Inc. $PAYC

Atlantic Union Bankshares Corp bought a new position in Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,307 shares of the software maker’s stock, valued at approximately $1,228,000.

Several other hedge funds also recently made changes to their positions in the company. SouthState Corp purchased a new stake in Paycom Software during the 1st quarter valued at $27,000. S Bank Fund Management Ltd bought a new stake in shares of Paycom Software in the first quarter worth about $37,000. Assetmark Inc. increased its holdings in Paycom Software by 651.9% during the 2nd quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock valued at $47,000 after purchasing an additional 176 shares during the period. Brooklyn Investment Group raised its position in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after purchasing an additional 39 shares during the last quarter. Finally, Putney Financial Group LLC raised its position in Paycom Software by 77.0% during the 2nd quarter. Putney Financial Group LLC now owns 338 shares of the software maker’s stock valued at $78,000 after purchasing an additional 147 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $162.44 on Friday. The company has a 50 day simple moving average of $205.86 and a two-hundred day simple moving average of $226.18. Paycom Software, Inc. has a fifty-two week low of $156.50 and a fifty-two week high of $267.76. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.81 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The company had revenue of $493.30 million for the quarter, compared to the consensus estimate 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 last year, the business earned $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. On average, analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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 given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 24th. Paycom Software’s payout ratio is currently 20.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PAYC. Barclays cut their price objective on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday. Jefferies Financial Group cut their price target on shares of Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. TD Cowen dropped their target price on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Guggenheim started coverage on shares of Paycom Software in a research report on Friday, September 26th. They set a “buy” rating and a $270.00 price target on the stock. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $225.77.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the sale, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by insiders.

Paycom Software 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.