Confluence Investment Management LLC Has $79.17 Million Stake in Paycom Software, Inc. $PAYC

Confluence Investment Management LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,139 shares of the software maker’s stock after selling 8,856 shares during the period. Confluence Investment Management LLC owned about 0.59% of Paycom Software worth $79,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Kingsview Wealth Management LLC lifted its stake in Paycom Software by 8.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after purchasing an additional 114 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Paycom Software by 57.1% in the 1st quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after acquiring an additional 976 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Paycom Software by 54.5% during the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $198,000 after acquiring an additional 319 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Paycom Software by 11.9% during the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after acquiring an additional 10,908 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Paycom Software by 15.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,007 shares of the software maker’s stock worth $220,000 after acquiring an additional 136 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Price Performance

Shares of PAYC stock opened at $222.69 on Friday. The stock has a market capitalization of $12.89 billion, a PE ratio of 30.13, a PEG ratio of 2.49 and a beta of 0.81. The business’s 50 day simple moving average is $227.07 and its 200 day simple moving average is $229.56. Paycom Software, Inc. has a one year low of $158.03 and a one year high of $267.76.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. During the same quarter in the previous year, the company earned $1.62 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software’s dividend payout ratio is 20.30%.

Analyst Ratings Changes

Several equities analysts have commented on PAYC shares. JPMorgan Chase & Co. increased their target price on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. KeyCorp upped their price objective on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Barclays boosted their target price on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus target price of $234.36.

About Paycom Software

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.