DekaBank Deutsche Girozentrale Grows Stock Position in Paycom Software, Inc. $PAYC

DekaBank Deutsche Girozentrale lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,150 shares of the software maker’s stock after purchasing an additional 70 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Paycom Software were worth $2,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp purchased a new position in Paycom Software in the first quarter valued at $27,000. von Borstel & Associates Inc. purchased a new stake in Paycom Software during the 1st quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in Paycom Software by 112.3% during the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker’s stock worth $30,000 after buying an additional 73 shares during the last quarter. S Bank Fund Management Ltd purchased a new stake in Paycom Software during the 1st quarter worth about $37,000. Finally, Brooklyn Investment Group lifted its holdings in Paycom Software by 19.4% during the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock worth $52,000 after buying an additional 39 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Down 0.3%

Shares of PAYC stock opened at $199.56 on Friday. The stock has a market capitalization of $11.55 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. Paycom Software, Inc. has a 52-week low of $163.75 and a 52-week high of $267.76. The stock’s 50-day moving average price is $214.69 and its 200 day moving average price is $228.42.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.28. The firm had revenue of $483.60 million for the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. Analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, August 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.8%. Paycom Software’s dividend payout ratio (DPR) is currently 20.30%.

Insider Buying and Selling 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 stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the sale, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on Paycom Software from $285.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Zacks Research downgraded Paycom Software from a “hold” rating to a “strong sell” rating in a report on Wednesday. Jefferies Financial Group reduced their target price on Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a report on Monday, October 13th. Finally, Guggenheim assumed coverage on Paycom Software in a report on Friday, September 26th. They issued a “buy” rating and a $270.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $243.69.

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.