Ninety One UK Ltd Sells 2,002 Shares of Paycom Software, Inc. $PAYC

Ninety One UK Ltd lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 153,432 shares of the software maker’s stock after selling 2,002 shares during the period. Ninety One UK Ltd’s holdings in Paycom Software were worth $33,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Paycom Software in the 2nd quarter valued at approximately $632,460,000. Contour Asset Management LLC purchased a new stake in Paycom Software in the fourth quarter valued at approximately $60,333,000. Bank of New York Mellon Corp acquired a new position in Paycom Software during the second quarter worth $42,858,000. River Road Asset Management LLC lifted its stake in Paycom Software by 481.9% during the fourth quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock worth $62,533,000 after purchasing an additional 324,970 shares in the last quarter. Finally, Equity Investment Corp purchased a new position in shares of Paycom Software during the second quarter worth $37,085,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other news, insider Shane Hadlock sold 241 shares of the company’s stock in a transaction on Friday, August 28th. The stock was 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. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of research reports. Weiss Ratings raised Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Barclays boosted their price objective on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday. Stifel Nicolaus increased their target price on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. TD Cowen increased their target price on Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.79.

Paycom Software Trading Up 5.4%

Shares of PAYC stock opened at $251.94 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $11.35 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.30 and a beta of 0.82. The company has a 50 day moving average price of $226.04 and a 200 day moving average price of $168.04. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $252.87.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The company had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period in the prior year, the business earned $2.06 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that Paycom Software, Inc. will post 10.64 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were paid a $0.3750 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. Paycom Software’s payout ratio is 15.94%.

About Paycom Software

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.