Avanza Fonder AB Invests $495,000 in Paycom Software, Inc. $PAYC

Avanza Fonder AB bought a new stake in Paycom Software, Inc. (NYSE:PAYC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,139 shares of the software maker’s stock, valued at approximately $495,000.

A number of other large investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in Paycom Software by 742.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 11,054 shares of the software maker’s stock worth $2,558,000 after purchasing an additional 9,742 shares during the period. IFM Investors Pty Ltd increased its stake in Paycom Software by 8.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 10,258 shares of the software maker’s stock worth $2,374,000 after purchasing an additional 772 shares during the period. Fulton Bank N.A. increased its stake in Paycom Software by 7.2% in the 2nd quarter. Fulton Bank N.A. now owns 3,108 shares of the software maker’s stock worth $719,000 after purchasing an additional 208 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Paycom Software by 3.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,541 shares of the software maker’s stock worth $5,720,000 after purchasing an additional 745 shares during the period. Finally, Swedbank AB increased its stake in Paycom Software by 9.1% in the 2nd quarter. Swedbank AB now owns 74,889 shares of the software maker’s stock worth $17,329,000 after purchasing an additional 6,251 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAYC. KeyCorp boosted their price target on Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Barclays boosted their price target on Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a report on Thursday, September 11th. TD Cowen upgraded Paycom Software from a “hold” rating to a “buy” rating and boosted their price target for the company from $246.00 to $258.00 in a report on Monday. Finally, UBS Group reduced their price target on Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $239.42.

Paycom Software Stock Up 1.6%

Shares of NYSE PAYC opened at $220.08 on Tuesday. Paycom Software, Inc. has a twelve month low of $158.03 and a twelve month high of $267.76. The firm has a market cap of $12.74 billion, a P/E ratio of 29.78, a PEG ratio of 2.38 and a beta of 0.81. The company has a 50 day moving average of $225.64 and a 200 day moving average of $229.78.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share 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 company had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is owned by insiders.

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.