Janney Montgomery Scott LLC Buys 1,623 Shares of Paycom Software, Inc. $PAYC

Janney Montgomery Scott LLC raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,939 shares of the software maker’s stock after buying an additional 1,623 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Paycom Software were worth $3,688,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its stake in 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 buying an additional 1,505,990 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Paycom Software by 5.0% in the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock valued at $269,398,000 after purchasing an additional 58,176 shares during the last quarter. Northern Trust Corp raised its holdings in shares of 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 last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Paycom Software in the first quarter valued at approximately $114,440,000. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of a number of recent research reports. Guggenheim initiated coverage on shares of Paycom Software in a report on Friday, September 26th. They issued a “buy” rating and a $270.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a report on Thursday, September 11th. BMO Capital Markets lifted their price objective 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. Barclays lifted their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Finally, TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and lifted their price objective for the company from $246.00 to $258.00 in a report on Monday, September 22nd. Four 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 stock currently has a consensus rating of “Hold” and an average target price of $241.77.

Insider Activity at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the company’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 transaction, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Paycom Software Price Performance

NYSE:PAYC opened at $205.16 on Thursday. Paycom Software, Inc. has a one year low of $160.00 and a one year high of $267.76. The company has a market cap of $11.87 billion, a P/E ratio of 27.76, a P/E/G ratio of 2.23 and a beta of 0.82. The firm’s fifty day moving average price is $220.10 and its two-hundred day moving average price is $229.25.

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

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were issued 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 payout ratio is currently 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.