Confluence Investment Management LLC Cuts Stock Holdings in Paycom Software, Inc. $PAYC

Key Points

• Confluence Investment Management LLC reduced its stake in Paycom Software, owning approximately 0.59% of the company, valued at about $79.17 million after selling 8,856 shares.
• Paycom Software reported a quarterly earnings per share (EPS) of $2.06, surpassing analysts' estimates of $1.78, with a revenue of $483.60 million.
• The company declared a quarterly dividend of $0.375 per share, which represents an annualized dividend of $1.50, yielding 0.7% with a payout ratio of 20.30%.

Confluence Investment Management LLC lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,139 shares of the software maker's stock after selling 8,856 shares during the quarter. Confluence Investment Management LLC owned 0.59% of Paycom Software worth $79,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PAYC. SouthState Corp bought a new stake in shares of Paycom Software in the 1st quarter worth about $27,000. von Borstel & Associates Inc. bought a new stake in shares of Paycom Software in the 1st quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in shares of Paycom Software by 112.3% in the 1st quarter. Golden State Wealth Management LLC now owns 138 shares of the software maker's stock worth $30,000 after acquiring an additional 73 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 1st quarter worth about $35,000. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Down 1.8%

PAYC traded down $4.10 on Monday, reaching $218.54. 485,361 shares of the company traded hands, compared to its average volume of 560,857. Paycom Software, Inc. has a one year low of $158.03 and a one year high of $267.76. The firm has a fifty day simple moving average of $226.80 and a two-hundred day simple moving average of $229.72. The company has a market cap of $12.65 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its 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 business 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 company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. On average, equities analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PAYC. KeyCorp raised their target price on shares of Paycom Software from $285.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. BMO Capital Markets raised their target price on shares of Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Cantor Fitzgerald upgraded shares of Paycom Software to a "hold" rating in a report on Thursday. Finally, Barclays lifted their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.