Candriam S.C.A. Has $15.45 Million Stock Position in 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. increased its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,704 shares of the software maker's stock after purchasing an additional 13,709 shares during the period. Candriam S.C.A. owned 0.12% of Paycom Software worth $15,447,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Paycom Software in the 1st quarter worth approximately $577,000. Level Four Advisory Services LLC increased its position in Paycom Software by 12.7% in the 1st quarter. Level Four Advisory Services LLC now owns 14,450 shares of the software maker's stock valued at $3,157,000 after acquiring an additional 1,629 shares during the period. Hsbc Holdings PLC increased its position in Paycom Software by 24.6% in the 1st quarter. Hsbc Holdings PLC now owns 81,007 shares of the software maker's stock valued at $17,675,000 after acquiring an additional 15,968 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Paycom Software in the 1st quarter valued at approximately $369,000. Finally, Financial Advisors Network Inc. acquired a new stake in Paycom Software in the 1st quarter valued at approximately $331,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAYC. 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. Piper Sandler raised their target price on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. KeyCorp lifted their price target on Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald started coverage on Paycom Software in a research report on Thursday, August 14th. They set a "neutral" rating and a $230.00 price target on the stock. One research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $234.36.

Insider Transactions at Paycom Software

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

Paycom Software Price Performance

Shares of PAYC traded up $8.4190 during trading hours on Friday, hitting $233.7390. 699,286 shares of the company were exchanged, compared to its average volume of 692,119. The company has a market capitalization of $13.53 billion, a PE ratio of 31.63, a PEG ratio of 2.55 and a beta of 0.81. The firm has a fifty day simple moving average of $229.43 and a 200-day simple moving average of $228.21. Paycom Software, Inc. has a one year low of $153.08 and a one year high of $267.76.

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

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's dividend payout ratio (DPR) is 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.