MidFirst Bank Buys Shares of 5,039 Paycom Software, Inc. $PAYC

MidFirst Bank bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, HoldingsChannel reports. The firm bought 5,039 shares of the software maker’s stock, valued at approximately $633,000.

Other large investors have also recently made changes to their positions in the company. Fluent Financial LLC bought a new position in Paycom Software in the 2nd quarter worth about $2,439,000. Principal Financial Group Inc. increased its position in shares of Paycom Software by 290.5% during the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock valued at $29,627,000 after buying an additional 181,346 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Paycom Software by 1,151.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 170,854 shares of the software maker’s stock worth $27,227,000 after buying an additional 157,201 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Paycom Software by 32.6% in the fourth quarter. Vest Financial LLC now owns 163,012 shares of the software maker’s stock worth $25,978,000 after buying an additional 40,108 shares in the last quarter. Finally, Ruffer LLP purchased a new stake in shares of Paycom Software in the fourth quarter worth about $3,126,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Down 1.5%

Shares of NYSE PAYC opened at $214.78 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The business has a 50-day moving average of $153.53 and a 200-day moving average of $137.42. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.23 and a beta of 0.75. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $234.60.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period last year, the firm posted $2.06 earnings per share. Paycom Software’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Paycom Software, Inc. will post 10.48 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

Analysts Set New Price Targets

PAYC has been the subject of several recent analyst reports. Weiss Ratings raised shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. BMO Capital Markets increased their target price on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. BTIG Research boosted their price target on shares of Paycom Software from $160.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Guggenheim upped their price target on shares of Paycom Software from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Stifel Nicolaus increased their price objective on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $204.69.

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.