Ninety One UK Ltd Sells 18,358 Shares of Paycom Software, Inc. $PAYC

Ninety One UK Ltd decreased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 15.8% in the second quarter, Holdings Channel reports. The firm owned 98,042 shares of the software maker’s stock after selling 18,358 shares during the quarter. Ninety One UK Ltd’s holdings in Paycom Software were worth $22,687,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its position in shares of Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock worth $346,180,000 after buying an additional 1,505,990 shares during the period. Invesco Ltd. raised its stake in Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after acquiring an additional 58,176 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Paycom Software by 2.3% during the first quarter. Northern Trust Corp now owns 740,385 shares of the software maker’s stock valued at $161,759,000 after acquiring an additional 16,369 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Paycom Software by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker’s stock valued at $138,435,000 after purchasing an additional 69,884 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Paycom Software in the 1st quarter worth about $114,440,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Shares of PAYC opened at $199.49 on Thursday. The business’s fifty day moving average price is $223.57 and its two-hundred day moving average price is $229.75. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.29 and a beta of 0.82. Paycom Software, Inc. has a 52 week low of $159.82 and a 52 week 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, beating the consensus estimate of $1.78 by $0.28. The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. As a group, research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the sale, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 10.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PAYC. BMO Capital Markets boosted their price target on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. UBS Group reduced their target price on Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. JPMorgan Chase & Co. raised their price target on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Finally, KeyCorp increased their target price on Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $241.77.

Paycom Software Company 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.