Amundi Has $2.65 Million Holdings in Paycom Software, Inc. $PAYC

Key Points

• Amundi cut its Paycom Software stake by 71.1% in the second quarter, selling 51,856 shares and retaining 21,069 shares valued at approximately $2.65 million. Institutional investors collectively own 87.77% of the company.
• Paycom exceeded quarterly expectations, reporting adjusted earnings of $2.78 per share and revenue of $531.2 million, up 9.8% year over year. The company also pays a quarterly dividend of $0.375 per share, yielding about 0.7% annually.
• PAYC recently traded at $218.97, near its 52-week high of $244.98. Analysts maintain a consensus “Hold” rating with an average price target of $214.23, despite some firms raising their targets and ratings.

Amundi lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 71.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,069 shares of the software maker's stock after selling 51,856 shares during the quarter. Amundi's holdings in Paycom Software were worth $2,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of Paycom Software by 9,363.4% during the second quarter. California State Teachers Retirement System now owns 5,681,993 shares of the software maker's stock valued at $714,113,000 after acquiring an additional 5,621,951 shares during the last quarter. BlackRock Inc. purchased a new position in Paycom Software in the second quarter worth $632,460,000. State Street Corp boosted its position in Paycom Software by 0.4% in the fourth quarter. State Street Corp now owns 2,165,546 shares of the software maker's stock worth $345,101,000 after purchasing an additional 8,419 shares during the last quarter. First Trust Advisors LP grew its stake in Paycom Software by 19.9% in the 4th quarter. First Trust Advisors LP now owns 1,665,529 shares of the software maker's stock valued at $265,419,000 after purchasing an additional 275,954 shares during the period. Finally, Invesco Ltd. grew its stake in Paycom Software by 28.2% in the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker's stock valued at $248,551,000 after purchasing an additional 343,494 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other news, insider Shane Hadlock sold 241 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the transaction, the insider directly owned 69,911 shares in the company, valued at $16,783,533.77. The trade was a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.20% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

NYSE:PAYC opened at $218.97 on Monday. The business's fifty day moving average is $191.05 and its 200 day moving average is $151.15. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.22 and a beta of 0.78. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software, Inc. has a 52-week low of $104.90 and a 52-week high of $244.98.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The business had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the firm earned $2.06 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Paycom Software, Inc. will post 10.65 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 24th. Paycom Software's dividend payout ratio is 15.94%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAYC. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $140.00 to $264.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 25th. Stifel Nicolaus raised their price target on shares of Paycom Software from $120.00 to $200.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. Zacks Research raised shares of Paycom Software from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. KeyCorp upped their price objective on Paycom Software from $195.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Citigroup increased their price objective on Paycom Software from $136.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $214.23.

Paycom Software Profile

Paycom Software, Inc is a provider of cloud-based payroll and human capital management (HCM) software for businesses. Its platform is designed to help organizations manage employee data and payroll processes through a unified system, serving small, midsize and larger employers primarily in the United States.

The company's products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, employee learning, performance management, compensation planning, benefits administration, expense management and compliance tools.

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