Baird Financial Group Inc. Purchases 2,431 Shares of Paycom Software, Inc. $PAYC

Key Points

• Baird Financial Group Inc. increased its stake in Paycom Software by 4.3%, acquiring an additional 2,431 shares to own a total of 59,500 shares valued at approximately $13 million.
• Paycom Software's earnings per share (EPS) for the last quarter was reported at $2.06, exceeding estimates of $1.78, while revenue grew by 10.5% year-over-year.
• The company declared a quarterly dividend of $0.375 per share, with a dividend yield of 0.7%, set to be paid on September 8th.

Baird Financial Group Inc. boosted its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,500 shares of the software maker's stock after acquiring an additional 2,431 shares during the period. Baird Financial Group Inc. owned 0.10% of Paycom Software worth $13,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PAYC. Baillie Gifford & Co. boosted its holdings in Paycom Software by 1,918.4% in the first quarter. Baillie Gifford & Co. now owns 1,584,493 shares of the software maker's stock worth $346,180,000 after acquiring an additional 1,505,990 shares in the last quarter. Sylebra Capital LLC boosted its holdings in Paycom Software by 63.8% in the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker's stock worth $658,996,000 after acquiring an additional 1,252,617 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Paycom Software in the fourth quarter worth approximately $60,882,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Paycom Software in the fourth quarter worth approximately $57,068,000. Finally, GAMMA Investing LLC boosted its holdings in Paycom Software by 33,661.7% in the first quarter. GAMMA Investing LLC now owns 197,506 shares of the software maker's stock worth $43,151,000 after acquiring an additional 196,921 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Paycom Software Trading Down 3.2%

Shares of PAYC opened at $219.91 on Wednesday. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.48 and a beta of 0.81. The stock has a 50 day moving average of $228.04 and a 200 day moving average of $229.20. Paycom Software, Inc. has a 12 month low of $153.08 and a 12 month high of $267.76.

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

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is presently 20.30%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $249.96, for a total transaction of $374,940.00. Following the completion of the sale, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PAYC. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a report on Thursday, May 8th. Stifel Nicolaus increased their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. BMO Capital Markets increased their price objective on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Barclays increased their price objective on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald started coverage on Paycom Software in a research note on Thursday, August 14th. They issued a "neutral" rating and a $230.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $234.36.

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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