Pallas Capital Advisors LLC Cuts Stock Holdings in Paycom Software, Inc. $PAYC

Pallas Capital Advisors LLC cut its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627 shares of the software maker’s stock after selling 161 shares during the period. Pallas Capital Advisors LLC’s holdings in Paycom Software were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PAYC. Baillie Gifford & Co. raised its stake in shares of Paycom Software by 1,918.4% in the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker’s stock valued at $346,180,000 after acquiring an additional 1,505,990 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after buying an additional 58,176 shares during the last quarter. Northern Trust Corp lifted its position in Paycom Software by 2.3% in the first quarter. Northern Trust Corp now owns 740,385 shares of the software maker’s stock valued at $161,759,000 after purchasing an additional 16,369 shares during the period. Goldman Sachs Group Inc. lifted its position in Paycom Software by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker’s stock valued at $138,435,000 after purchasing an additional 69,884 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Paycom Software during the 1st quarter valued at approximately $114,440,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.90% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the subject of several research reports. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Barclays upped their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. UBS Group cut their price objective on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $238.58.

Paycom Software Stock Down 0.1%

PAYC stock opened at $216.32 on Monday. The company has a 50 day moving average of $225.68 and a two-hundred day moving average of $229.73. Paycom Software, Inc. has a 12-month low of $158.03 and a 12-month high of $267.76. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.38 and a beta of 0.81.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the business posted $1.62 EPS. Paycom Software’s quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders 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 yield of 0.7%. Paycom Software’s dividend payout ratio is 20.30%.

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.