Paycom Software, Inc. $PAYC Shares Sold by Amundi

Key Points

• Amundi reduced its holdings in Paycom Software by 21.7%, ending the quarter with $14.01 million from owning 65,641 shares after selling 18,149 shares.
• Several large investors have increased their stakes significantly, with Sylebra Capital boosting its position by 63.8% to own over 3.2 million shares.
• Analysts' target prices for Paycom Software have been adjusted, with Barclays and KeyCorp raising their targets to $250.00 and $290.00 respectively, while the stock holds an average rating of "Hold".

Amundi cut its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 21.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,641 shares of the software maker's stock after selling 18,149 shares during the quarter. Amundi owned approximately 0.11% of Paycom Software worth $14,010,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sylebra Capital LLC increased its holdings in shares of Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock valued at $658,996,000 after acquiring an additional 1,252,617 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Paycom Software by 1,918.4% during the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock valued at $346,180,000 after acquiring an additional 1,505,990 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock valued at $269,398,000 after acquiring an additional 58,176 shares in the last quarter. Northern Trust Corp increased 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 valued at $161,759,000 after acquiring an additional 16,369 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Paycom Software during the first quarter valued at about $114,440,000. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PAYC. BMO Capital Markets upped their price objective 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. Barclays upped their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a report on Thursday. KeyCorp upped their target price on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, 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 report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $234.36.

Paycom Software Stock Performance

NYSE PAYC traded down $3.68 during trading hours on Friday, reaching $222.69. The stock had a trading volume of 379,384 shares, compared to its average volume of 571,568. Paycom Software, Inc. has a 52-week low of $158.03 and a 52-week high of $267.76. The stock has a fifty day moving average of $227.07 and a 200 day moving average of $229.56. The stock has a market cap of $12.89 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

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

Paycom Software Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's dividend payout ratio (DPR) is presently 20.30%.

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.