Confluence Investment Management LLC Sells 43,599 Shares of Paycom Software, Inc. $PAYC

Confluence Investment Management LLC lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,788 shares of the software maker’s stock after selling 43,599 shares during the period. Paycom Software comprises 1.1% of Confluence Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Confluence Investment Management LLC’s holdings in Paycom Software were worth $71,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Fluent Financial LLC acquired a new position in shares of Paycom Software during the second quarter valued at approximately $2,439,000. Principal Financial Group Inc. boosted its stake in shares of Paycom Software by 290.5% in the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock worth $29,627,000 after acquiring an additional 181,346 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Paycom Software by 467.2% during the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock worth $2,819,000 after purchasing an additional 19,110 shares in the last quarter. Virtu Financial LLC acquired a new position in Paycom Software in the 4th quarter valued at $912,000. Finally, Reinhart Partners LLC. lifted its holdings in Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after purchasing an additional 204,191 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In other news, insider Shane Hadlock sold 241 shares of Paycom Software stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the sale, the insider owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.20% of the company’s stock.

Paycom Software Trading Up 4.1%

Shares of PAYC stock traded up $8.88 on Thursday, hitting $226.53. 227,902 shares of the stock traded hands, compared to its average volume of 1,228,091. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $244.98. The firm’s 50-day moving average price is $211.73 and its two-hundred day moving average price is $159.65. The stock has a market capitalization of $10.21 billion, a PE ratio of 24.06, a PEG ratio of 1.21 and a beta of 0.78.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same period last year, the business earned $2.06 earnings per share. Paycom Software’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Paycom Software, Inc. will post 10.64 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were issued a dividend of $0.3750 per share. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is currently 15.94%.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of research reports. UBS Group upped their target price on shares of Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $140.00 to $264.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Cantor Fitzgerald upped their price objective on shares of Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. TD Cowen increased their price objective on shares of Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup boosted their target price on Paycom Software from $136.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $213.93.

Paycom Software Company Profile

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.