Paycom Software, Inc. $PAYC Stock Holdings Decreased by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,549 shares of the software maker’s stock after selling 290 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Paycom Software were worth $1,747,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. grew its position in 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 purchasing an additional 1,505,990 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Paycom Software in the first quarter worth $114,440,000. Nuveen LLC purchased a new position in shares of Paycom Software during the first quarter valued at $26,177,000. Robeco Institutional Asset Management B.V. raised its position in Paycom Software by 322.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 122,394 shares of the software maker’s stock valued at $28,322,000 after buying an additional 93,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Paycom Software by 30.7% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 363,949 shares of the software maker’s stock worth $79,516,000 after acquiring an additional 85,526 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $199.87 on Monday. Paycom Software, Inc. has a 52-week low of $161.24 and a 52-week high of $267.76. The firm has a market capitalization of $11.57 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company’s fifty day moving average price is $218.98 and its two-hundred day moving average price is $229.02.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share 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 net margin of 21.22% and a return on equity of 25.40%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 EPS. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

Analysts Set New Price Targets

PAYC has been the topic of several research analyst reports. KeyCorp lifted their target price on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Guggenheim initiated coverage on shares of Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 price target for the company. UBS Group lowered their price objective on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Finally, TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and lifted their target price for the company from $246.00 to $258.00 in a research note on Monday, September 22nd. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $241.77.

Insider Buying and Selling

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

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.