Arrowstreet Capital Limited Partnership Purchases 96,138 Shares of Paycom Software, Inc. $PAYC

Arrowstreet Capital Limited Partnership raised its position in Paycom Software, Inc. (NYSE:PAYC) by 17.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 633,692 shares of the software maker’s stock after buying an additional 96,138 shares during the period. Arrowstreet Capital Limited Partnership owned 1.10% of Paycom Software worth $146,636,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PAYC. Vanguard Group Inc. boosted its holdings in shares of Paycom Software by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,623,570 shares of the software maker’s stock worth $1,301,294,000 after acquiring an additional 165,647 shares in the last quarter. Geode Capital Management LLC raised its position in Paycom Software by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,661,685 shares of the software maker’s stock valued at $383,265,000 after purchasing an additional 83,154 shares during the last quarter. Invesco Ltd. boosted its stake in Paycom Software by 5.0% in the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker’s stock worth $269,398,000 after purchasing an additional 58,176 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Paycom Software by 2.3% during the first quarter. Northern Trust Corp now owns 740,385 shares of the software maker’s stock worth $161,759,000 after purchasing an additional 16,369 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake 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 buying an additional 69,884 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $162.05 on Wednesday. Paycom Software, Inc. has a 52 week low of $156.50 and a 52 week high of $267.76. The company’s 50 day moving average price is $186.25 and its two-hundred day moving average price is $217.19. The company has a market capitalization of $9.12 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.84.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.02). Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The company had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. During the same quarter last year, the company earned $1.67 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio (DPR) is currently 18.66%.

Analyst Ratings Changes

Several brokerages recently issued reports on PAYC. BMO Capital Markets upped their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Paycom Software in a research report on Monday. KeyCorp decreased their price target on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Finally, Barclays reduced their price objective on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $225.77.

Paycom Software Company Profile

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.