Caisse DE Depot ET Placement DU Quebec Invests $422,000 in Paycom Software, Inc. $PAYC

Key Points

• Caisse DE Depot ET Placement DU Quebec invested approximately $422,000 in Paycom Software, acquiring 1,933 shares during the first quarter.
• Paycom Software recently reported a strong quarterly performance, with $2.06 EPS, surpassing estimates and demonstrating a 10.5% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.375 per share, with a dividend yield of 0.7%, scheduled for payment on September 8th.

Caisse DE Depot ET Placement DU Quebec acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,933 shares of the software maker's stock, valued at approximately $422,000.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new position in Paycom Software in the 4th quarter worth approximately $638,000. Dimensional Fund Advisors LP increased its position in shares of Paycom Software by 20.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 300,538 shares of the software maker's stock valued at $61,603,000 after purchasing an additional 51,317 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Paycom Software by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,258 shares of the software maker's stock valued at $14,197,000 after acquiring an additional 647 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Paycom Software by 12.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,396 shares of the software maker's stock worth $286,000 after buying an additional 159 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its stake in shares of Paycom Software by 4.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,722 shares of the software maker's stock worth $558,000 after purchasing an additional 127 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction 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 transaction, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PAYC. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. 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. Barclays raised their target price on Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Stifel Nicolaus lifted their price objective on Paycom Software from $187.00 to $215.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and a consensus target price of $234.36.

Paycom Software Trading Up 0.3%

Shares of PAYC traded up $0.66 during mid-day trading on Wednesday, hitting $220.66. The company's stock had a trading volume of 454,820 shares, compared to its average volume of 626,382. The firm has a 50-day simple moving average of $228.04 and a 200 day simple moving average of $229.20. The firm has a market capitalization of $12.77 billion, a P/E ratio of 29.86, a P/E/G ratio of 2.48 and a beta of 0.81. Paycom Software, Inc. has a 1-year low of $153.08 and a 1-year high of $267.76.

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 the consensus estimate of $1.78 by $0.28. The firm had revenue of $483.60 million during the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $1.62 earnings per share. As a group, sell-side analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software's payout ratio is currently 20.30%.

Paycom Software 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.