2,784 Paycom Software, Inc. $PAYC Shares Sold by Candriam S.C.A.

Candriam S.C.A. reduced its position in Paycom Software, Inc. (NYSE:PAYC) by 59.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,912 shares of the software maker’s stock after selling 2,784 shares during the period. Candriam S.C.A.’s holdings in Paycom Software were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PAYC. Ethic Inc. increased its holdings in shares of Paycom Software by 4.9% in the 3rd quarter. Ethic Inc. now owns 3,582 shares of the software maker’s stock worth $780,000 after purchasing an additional 166 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Paycom Software by 0.6% in the third quarter. Pictet Asset Management Holding SA now owns 6,240 shares of the software maker’s stock worth $1,358,000 after purchasing an additional 40 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Paycom Software by 18.4% during the third quarter. Parallel Advisors LLC now owns 2,918 shares of the software maker’s stock valued at $635,000 after purchasing an additional 454 shares in the last quarter. CenterBook Partners LP bought a new position in shares of Paycom Software during the third quarter valued at $1,433,000. Finally, Heritage Family Offices LLP bought a new position in shares of Paycom Software during the third quarter valued at $77,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BMO Capital Markets increased their price objective on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. TD Cowen boosted their target price on Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. KeyCorp upped their target price on shares of Paycom Software from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Jefferies Financial Group upped their target price on shares of Paycom Software from $160.00 to $300.00 and gave the company a “hold” rating in a research note on Tuesday, October 27th. Finally, BTIG Research downgraded shares of Paycom Software from a “buy” rating to a “neutral” rating in a report on Thursday, November 5th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.36.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the transaction, 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. Company insiders own 13.20% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC opened at $242.69 on Thursday. The firm has a market cap of $10.93 billion, a PE ratio of 23.25, a P/E/G ratio of 1.13 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $238.32 and a two-hundred day simple moving average of $168.05. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $275.22.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, November 4th. The software maker reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.56. The firm had revenue of $543.80 million for the quarter, compared to analysts’ expectations of $535.26 million. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 EPS. On average, equities analysts anticipate that Paycom Software, Inc. will post 11.02 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be given a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 23rd. Paycom Software’s dividend payout ratio is 14.37%.

Paycom Software Profile

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps businesses manage payroll, human resources, and workforce operations through a unified platform. Its solutions support the employee life cycle, including recruiting, onboarding, payroll processing, benefits administration, time and labor management, talent management, and compliance. The company’s platform incorporates automation and artificial intelligence to streamline HR processes and reduce administrative tasks.