Candriam S.C.A. Acquires 13,709 Shares of Paycom Software, Inc. $PAYC

Key Points

• Candriam S.C.A. increased its position in Paycom Software by 24.1%, now holding 70,704 shares valued at approximately $15.45 million.
• Analysts have raised Paycom's price targets, with JPMorgan increasing their target from $215 to $235 and KeyCorp raising theirs from $285 to $290, resulting in an average target of $234.36.
• Paycom Software recently declared a quarterly dividend of $0.375 per share, with a dividend yield of 0.7% and a payout ratio of 20.30%.

Candriam S.C.A. boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,704 shares of the software maker's stock after buying an additional 13,709 shares during the quarter. Candriam S.C.A. owned approximately 0.12% of Paycom Software worth $15,447,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PAYC. Brooklyn Investment Group raised its stake in Paycom Software by 19.4% during the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker's stock valued at $52,000 after purchasing an additional 39 shares in the last quarter. Commerce Bank raised its stake in Paycom Software by 2.2% during the first quarter. Commerce Bank now owns 2,351 shares of the software maker's stock valued at $514,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP raised its stake in Paycom Software by 12.9% during the first quarter. Allworth Financial LP now owns 464 shares of the software maker's stock valued at $105,000 after purchasing an additional 53 shares in the last quarter. US Bancorp DE raised its stake in Paycom Software by 0.5% during the first quarter. US Bancorp DE now owns 10,421 shares of the software maker's stock valued at $2,277,000 after purchasing an additional 57 shares in the last quarter. Finally, Salvus Wealth Management LLC raised its stake in Paycom Software by 4.9% during the first quarter. Salvus Wealth Management LLC now owns 1,238 shares of the software maker's stock valued at $270,000 after purchasing an additional 58 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Down 1.5%

NYSE:PAYC traded down $3.52 during mid-day trading on Tuesday, hitting $227.27. 125,293 shares of the stock traded hands, compared to its average volume of 624,409. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.55 and a beta of 0.81. Paycom Software, Inc. has a 52 week low of $153.08 and a 52 week high of $267.76. The firm's 50 day moving average is $229.12 and its two-hundred day moving average is $228.59.

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

Paycom Software Announces Dividend

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

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 23,200 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $265.20, for a total value of $6,152,640.00. Following the transaction, the chief executive officer owned 3,224,049 shares of the company's stock, valued at $855,017,794.80. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Randall Peck sold 890 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total transaction of $234,256.90. Following the transaction, the chief operating officer owned 49,394 shares in the company, valued at approximately $13,000,994.74. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,590 shares of company stock valued at $6,761,837 in the last 90 days. Company insiders own 10.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PAYC. Piper Sandler upped their price target on shares of Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of Paycom Software in a research note on Thursday, August 14th. They issued a "neutral" rating and a $230.00 target price on the stock. Barclays lifted their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $215.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Paycom Software presently has a consensus rating of "Hold" and a consensus price target of $234.36.

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.