The Vanguard Group, Inc. recently announced the acquisition of new stake in Paycom Software Inc (NYSE:PAYC). The institutional investor has increased its shareholding in the Technology company by 0.52% to 5.59 million shares with purchase of 29125.0 shares. This fresh investment now brings its stake to 9.28% valued currently at $1.01 billion. In addition, AllianceBernstein LP raised its holdings by 0.88 million to 3.02 million shares. And Geode Capital Management LLC has lifted its position by 3.98% or 45369.0 shares – to 1.19 million shares.
With over 0.49 million Paycom Software Inc (PAYC) shares trading Friday and a closing price of $205.60 on the day, the dollar volume was approximately $101.75 million. The shares have shown a negative half year performance of -33.85% and its price on 12/22/23 lost nearly -0.48%. Currently, there are 57.87M common shares owned by the public and among those 49.09M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for PAYC have a consensus price objective of $195.00. The analysts have set the share’s price value over the next 12 months at a high of $270.00 and a low of $140.00. The average price target is -5.44% below its recent price level and a downside to the estimated low will see the stock lose -46.86% over that period. But an upside of 23.85% will see the stock hit the forecast high price target while median target price for the stock is $191.50.
Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 163,427 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 14,374 shares.
The top 3 mutual fund holders in Paycom Software Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 1.61 million shares of the company’s stock, all valued at over $292.5 million. The company bought an additional 1924.0 shares recently to bring their total holdings to about 2.67% of the shares outstanding. Vanguard 500 Index Fund bought 5080.0 shares to see its total holdings expand to 1.19 million shares valued at over $216.0 million and representing 1.97% of the shares outstanding. Vanguard Mid Cap Index Fund bought 3077.0 shares to bring its total holdings to over 1.17 million shares at a value of $212.06 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.94% of the shares outstanding.
Shares of Paycom Software Inc (NYSE: PAYC) opened at $208.09, up $1.49 from a prior closing price of $206.60. However, the script later moved the day high at 208.93, down -0.48%. The company’s stock has a 5-day price change of 1.40% and -20.41% over the past three months. PAYC shares are trading -33.74% year to date (YTD), with the 12-month market performance down to -33.75% lower. It has a 12-month low price of $146.15 and touched a high of $374.04 over the same period. PAYC has an average intraday trading volume of 1.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.85%, 1.34%, and -24.57% respectively.
Institutional ownership of Paycom Software Inc (NYSE: PAYC) shares accounts for 77.21% of the company’s 57.87M shares outstanding. Mutual fund holders own 32.52%, while other institutional holders and individual stakeholders account for 41.70% and 30.05% respectively.
It has a market capitalization of $11.86B and a beta (3y monthly) value of 1.26. The stock’s trailing 12-month PE ratio is 35.18, while the earnings-per-share (ttm) stands at $5.84. The company has a PEG of 2.36 and a Quick Ratio of 1.18 with the debt-to-equity ratio at 0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.44% over the week and 2.88% over the month.
Analysts forecast that Paycom Software Inc (PAYC) will achieve an EPS of $1.78 for the current quarter, $2.59 for the next quarter and $8.16 for 2024. The lowest estimate earnings-per-share for the quarter is $1.65 while analysts give the company a high EPS estimate of $1.9. Comparatively, EPS for the current quarter was $1.73 a year ago. Earnings per share for the fiscal year are expected to increase by 24.25%, and 7.23% over the next financial year. EPS should shrink at an annualized rate of 14.94% over the next five years, compared to 18.21% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Paycom Software Inc (PAYC) as a “Moderate Buy” at a consensus score of 2.48. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 14 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PAYC, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on November 07, 2023, with the firm’s price target at $235.
