3,438 Shares in Paycom Software, Inc. $PAYC Bought by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. purchased 3,438 shares of Paycom Software, valued at approximately $796,000, indicating growing institutional interest in the company.
• Paycom Software reported $2.06 EPS for the quarter, exceeding the consensus estimate of $1.78, with a revenue increase of 10.5% year-over-year.
• The company declared a quarterly dividend of $0.375 per share, which translates to an annualized dividend yield of 0.7%.

Cookson Peirce & Co. Inc. bought a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,438 shares of the software maker's stock, valued at approximately $796,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in Paycom Software by 1,918.4% during the 1st quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock worth $346,180,000 after buying an additional 1,505,990 shares in the last quarter. Invesco Ltd. lifted its position in Paycom Software by 5.0% during the 1st 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 in the last quarter. Northern Trust Corp lifted its position in Paycom Software by 2.3% during the 1st quarter. Northern Trust Corp now owns 740,385 shares of the software maker's stock worth $161,759,000 after buying an additional 16,369 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Paycom Software by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker's stock worth $138,435,000 after buying an additional 69,884 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Paycom Software during the 1st quarter worth about $114,440,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Down 2.2%

Shares of PAYC opened at $202.21 on Thursday. Paycom Software, Inc. has a 12 month low of $162.62 and a 12 month high of $267.76. The firm's 50 day moving average is $215.35 and its 200-day moving average is $228.10. The stock has a market capitalization of $11.70 billion, a PE ratio of 27.36, a P/E/G ratio of 2.29 and a beta of 0.82.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its 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 analysts' expectations of $472.00 million. During the same period last year, the firm earned $1.62 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given 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 0.7%. Paycom Software's dividend payout ratio (DPR) is currently 20.30%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PAYC. Cantor Fitzgerald raised shares of Paycom Software to a "hold" rating in a research report on Thursday, September 11th. Jefferies Financial Group cut their target price on shares of Paycom Software from $250.00 to $225.00 and set a "hold" rating for the company in a research note on Monday, October 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Paycom Software in a report on Wednesday, October 8th. KeyCorp increased their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their price target 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. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Paycom Software currently has an average rating of "Hold" and an average price target of $243.69.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following 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 SEC, which is accessible through this link. Corporate insiders own 10.90% of the company's stock.

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.

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