Fifth Third Bancorp Increases Position in Paycom Software, Inc. $PAYC

Fifth Third Bancorp raised its position in Paycom Software, Inc. (NYSE:PAYC) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,539 shares of the software maker’s stock after purchasing an additional 96 shares during the period. Fifth Third Bancorp’s holdings in Paycom Software were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PAYC. Brighton Jones LLC purchased a new stake in shares of Paycom Software in the 4th quarter valued at approximately $638,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker’s stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Paycom Software by 466.0% in the 1st quarter. Versant Capital Management Inc now owns 266 shares of the software maker’s stock valued at $58,000 after purchasing an additional 219 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Paycom Software by 33,661.7% in the 1st quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker’s stock valued at $43,151,000 after purchasing an additional 196,921 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Paycom Software by 11.9% in the 1st quarter. Rhumbline Advisers now owns 102,936 shares of the software maker’s stock valued at $22,489,000 after purchasing an additional 10,908 shares during the last quarter. 87.77% of the stock is 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 on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider owned 24,533 shares in the company, 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 this hyperlink. Company insiders own 10.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PAYC shares. KeyCorp increased their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. BMO Capital Markets upped their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Guggenheim began coverage on shares of Paycom Software in a report on Friday. They issued a “buy” rating and a $270.00 target price for the company. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and upped their target price for the company from $246.00 to $258.00 in a report on Monday, September 22nd. Finally, Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $241.77.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $218.08 on Tuesday. The stock has a market cap of $12.62 billion, a P/E ratio of 29.51, a P/E/G ratio of 2.39 and a beta of 0.81. The firm has a fifty day moving average price of $224.84 and a 200 day moving average price of $230.11. Paycom Software, Inc. has a 1-year low of $159.82 and a 1-year high of $267.76.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results 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. The firm had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. Paycom Software’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio (DPR) 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.