Pinnacle Bancorp Inc. Acquires 160 Shares of Paycom Software, Inc. (NYSE:PAYC)

12 Oct 2024, 11:04 by Scott Moore · The Cerbat Gem

Pinnacle Bancorp Inc. raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 93.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 332 shares of the software maker’s stock after acquiring an additional 160 shares during the period. Pinnacle Bancorp Inc.’s holdings in Paycom Software were worth $55,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after purchasing an additional 137,583 shares in the last quarter. Sylebra Capital LLC grew its stake in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Paycom Software by 9.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after buying an additional 92,049 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Paycom Software by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after buying an additional 79,299 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after acquiring an additional 529,591 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group reduced their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Citigroup dropped their target price on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Barclays increased their price target on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, TD Cowen boosted their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Paycom Software presently has an average rating of “Hold” and an average target price of $180.17.

Check Out Our Latest Research Report on PAYC

Paycom Software Trading Down 0.9 %

Shares of NYSE:PAYC opened at $162.50 on Friday. The company has a 50-day moving average price of $163.47 and a 200-day moving average price of $166.37. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $278.23.

Paycom Software (NYSE:PAYC – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. As a group, research analysts forecast that Paycom Software, Inc. will post 6.67 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, August 26th. Paycom Software’s dividend payout ratio (DPR) is currently 18.07%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $160.11, for a total value of $312,214.50. Following the completion of the transaction, the chief executive officer now directly owns 3,013,958 shares of the company’s stock, valued at $482,564,815.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Paycom Software news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the completion of the transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $160.11, for a total transaction of $312,214.50. Following the completion of the sale, the chief executive officer now directly owns 3,013,958 shares in the company, valued at $482,564,815.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,906 shares of company stock valued at $11,642,951. 14.50% of the stock is currently owned by company insiders.

Paycom Software Company Profile

(Free Report)

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.