Assenagon Asset Management S.A. Has $2.56 Million Stock Holdings in Paycom Software, Inc. $PAYC

Key Points

• Assenagon Asset Management S.A. increased its stake in Paycom Software by 742.5%, owning 11,054 shares valued at approximately $2.56 million after acquiring an additional 9,742 shares in the second quarter.
• The company reported earnings of $2.06 per share for the recent quarter, surpassing analysts' expectations of $1.78, with year-over-year revenue growth of 10.5%.
• Paycom Software's dividend yield is currently 0.7%, with a quarterly dividend of $0.375 recently paid to shareholders.

Assenagon Asset Management S.A. raised its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 742.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,054 shares of the software maker's stock after purchasing an additional 9,742 shares during the period. Assenagon Asset Management S.A.'s holdings in Paycom Software were worth $2,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Baillie Gifford & Co. raised its holdings in shares of 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. raised its stake in Paycom Software by 5.0% during the first quarter. Invesco Ltd. now owns 1,233,057 shares of the software maker's stock worth $269,398,000 after acquiring an additional 58,176 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Paycom Software by 2.3% in the first quarter. Northern Trust Corp now owns 740,385 shares of the software maker's stock worth $161,759,000 after acquiring an additional 16,369 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Paycom Software by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,626 shares of the software maker's stock valued at $138,435,000 after purchasing an additional 69,884 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Paycom Software during the 1st quarter valued at approximately $114,440,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Paycom Software Trading Down 1.1%

Shares of PAYC opened at $215.13 on Friday. The stock's 50-day moving average price is $225.28 and its two-hundred day moving average price is $229.62. Paycom Software, Inc. has a 12 month low of $158.03 and a 12 month high of $267.76. The company has a market capitalization of $12.45 billion, a PE ratio of 29.11, a PEG ratio of 2.39 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $472.00 million. During the same period last year, the company earned $1.62 earnings per share. The firm's revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal 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 $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, August 25th. Paycom Software's dividend payout ratio is currently 20.30%.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction 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 completion of the transaction, the insider owned 24,533 shares of the company's stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PAYC. UBS Group cut their target price on shares of Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. KeyCorp raised their price objective on Paycom Software from $285.00 to $290.00 and gave the company 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. JPMorgan Chase & Co. increased 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. Finally, TD Cowen upgraded Paycom Software from a "hold" rating to a "buy" rating and boosted their price target for the stock from $246.00 to $258.00 in a report on Monday. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $239.42.

Paycom Software Company 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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