Avanza Fonder AB Invests $495,000 in Paycom Software, Inc. $PAYC

Key Points

• Avanza Fonder AB invested approximately $495,000 in Paycom Software by acquiring 2,139 shares in the second quarter.
• Wall Street analysts have varying ratings on Paycom Software, with three analysts issuing a Buy rating and twelve assigning a Hold rating, resulting in a consensus price target of $239.42.
• Paycom Software announced a quarterly dividend of $0.375 per share, yielding 0.7%, with a payout ratio of 20.30% as of the latest reports.

Avanza Fonder AB bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,139 shares of the software maker's stock, valued at approximately $495,000.

A number of other large investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in Paycom Software by 742.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 11,054 shares of the software maker's stock worth $2,558,000 after purchasing an additional 9,742 shares during the period. IFM Investors Pty Ltd increased its stake in Paycom Software by 8.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 10,258 shares of the software maker's stock worth $2,374,000 after purchasing an additional 772 shares during the period. Fulton Bank N.A. increased its stake in Paycom Software by 7.2% in the 2nd quarter. Fulton Bank N.A. now owns 3,108 shares of the software maker's stock worth $719,000 after purchasing an additional 208 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Paycom Software by 3.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,541 shares of the software maker's stock worth $5,720,000 after purchasing an additional 745 shares during the period. Finally, Swedbank AB increased its stake in Paycom Software by 9.1% in the 2nd quarter. Swedbank AB now owns 74,889 shares of the software maker's stock worth $17,329,000 after purchasing an additional 6,251 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAYC. KeyCorp boosted their price target on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Barclays boosted their price target on 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 Paycom Software to a "hold" rating in a report on Thursday, September 11th. TD Cowen upgraded Paycom Software from a "hold" rating to a "buy" rating and boosted their price target for the company from $246.00 to $258.00 in a report on Monday. Finally, UBS Group reduced their price target on Paycom Software from $310.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $239.42.

Paycom Software Stock Up 1.6%

Shares of NYSE PAYC opened at $220.08 on Tuesday. Paycom Software, Inc. has a twelve month low of $158.03 and a twelve month high of $267.76. The firm has a market cap of $12.74 billion, a P/E ratio of 29.78, a PEG ratio of 2.38 and a beta of 0.81. The company has a 50 day moving average of $225.64 and a 200 day moving average of $229.78.

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 for the quarter, topping analysts' consensus estimates of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The company had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same period in the previous year, the business earned $1.62 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, August 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. Paycom Software's payout ratio is currently 20.30%.

Insider Buying and Selling at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction 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 transaction, the insider directly owned 24,533 shares of the company's stock, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is owned by insiders.

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.

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