Alliancebernstein L.P. Increases Holdings in Paycom Software, Inc. $PAYC

Key Points

• Alliancebernstein L.P. increased its holdings in Paycom Software, Inc. by 37.6% in Q1, now owning 82,565 shares valued at approximately $18 million.
• Paycom reported a 10.5% increase in revenue year-over-year, reaching $483.6 million, along with an EPS of $2.06, surpassing analysts' estimates.
• The company declared a quarterly dividend of $0.375, representing an annualized yield of 0.7%, with a payout ratio of 20.3%.

Alliancebernstein L.P. grew its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,565 shares of the software maker's stock after acquiring an additional 22,572 shares during the period. Alliancebernstein L.P. owned about 0.14% of Paycom Software worth $18,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. SouthState Corp purchased a new position in shares of Paycom Software in the first quarter valued at about $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Paycom Software in the first quarter worth about $27,000. Golden State Wealth Management LLC lifted its position in shares of Paycom Software by 112.3% in the first 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 in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Paycom Software by 135.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after buying an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Paycom Software during the first quarter worth approximately $35,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Down 0.6%

Shares of NYSE:PAYC opened at $221.16 on Thursday. Paycom Software, Inc. has a 52-week low of $158.03 and a 52-week high of $267.76. The stock has a market cap of $12.80 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.44 and a beta of 0.81. The business's 50 day moving average is $227.39 and its 200 day moving average is $229.48.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company had revenue of $483.60 million for the quarter, compared to analysts' expectations of $472.00 million. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Paycom Software's revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's dividend payout ratio is 20.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PAYC shares. Cantor Fitzgerald started coverage on Paycom Software in a research note on Thursday, August 14th. They set a "neutral" rating and a $230.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. BMO Capital Markets upped their target price on Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. KeyCorp upped their target price on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Barclays upped their target price on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $234.36.

Paycom Software 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.

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