Acadian Asset Management LLC Buys 6,966 Shares of Paycom Software, Inc. $PAYC

Key Points

• Acadian Asset Management LLC increased its holdings in Paycom Software by 69.7% during the first quarter, acquiring 6,966 additional shares, bringing its total to 16,965 shares valued at approximately $3.70 million.
• Paycom Software reported earnings of $2.06 per share, exceeding analysts' expectations of $1.78, with a revenue of $483.6 million for the quarter, a year-over-year increase of 10.5%.
• Several analysts have raised their price targets for Paycom Software, with KeyCorp increasing its target from $285 to $290, while the consensus target now stands at $234.36.

Acadian Asset Management LLC raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 69.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,965 shares of the software maker's stock after buying an additional 6,966 shares during the quarter. Acadian Asset Management LLC's holdings in Paycom Software were worth $3,703,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PAYC. Brighton Jones LLC purchased a new position in Paycom Software during the fourth quarter valued at $638,000. Focus Partners Wealth purchased a new position in Paycom Software during the fourth quarter valued at $252,000. Nuveen Asset Management LLC increased its holdings in shares of Paycom Software by 5.4% in the 4th quarter. Nuveen Asset Management LLC now owns 125,919 shares of the software maker's stock worth $25,810,000 after purchasing an additional 6,415 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Paycom Software by 1.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,357 shares of the software maker's stock worth $1,314,000 after purchasing an additional 77 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Paycom Software in the 4th quarter worth $147,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAYC. UBS Group reduced their target price on Paycom Software from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday. KeyCorp lifted their target price on Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Cantor Fitzgerald raised Paycom Software to a "hold" rating in a report on Thursday, September 11th. Barclays lifted their target price on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets lifted their target price on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Paycom Software presently has an average rating of "Hold" and an average price target of $238.58.

Paycom Software Stock Down 0.1%

Shares of Paycom Software stock traded down $0.23 during trading hours on Friday, reaching $216.32. 1,660,400 shares of the stock traded hands, compared to its average volume of 558,613. The company has a 50 day moving average price of $225.68 and a 200 day moving average price of $229.47. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 2.38 and a beta of 0.81. Paycom Software, Inc. has a one year low of $158.03 and a one year high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.28. The business had revenue of $483.60 million during the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. Sell-side analysts anticipate 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 was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software's payout ratio is currently 20.30%.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 24,533 shares in the company, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.