Confluence Investment Management LLC Sells 33,360 Shares of Paycom Software, Inc. $PAYC

Key Points

• Confluence Investment Management reduced its Paycom Software stake by 8.2%, selling 33,360 shares during the second quarter. It still held 374,387 shares worth approximately $47.1 million, while institutional investors collectively owned 87.77% of PAYC.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $159.75. Ratings include one Strong Buy, five Buys and eight Holds.
• Paycom reported quarterly EPS of $3.15, beating estimates of $2.99, while revenue reached $571.8 million and increased 7.8% year over year. The stock opened at $168.60, with a market capitalization of about $8.03 billion.

Confluence Investment Management LLC lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,387 shares of the software maker's stock after selling 33,360 shares during the period. Confluence Investment Management LLC owned about 0.79% of Paycom Software worth $47,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreFirst Bank & Trust increased its position in shares of Paycom Software by 39.7% during the 1st quarter. CoreFirst Bank & Trust now owns 880 shares of the software maker's stock valued at $107,000 after purchasing an additional 250 shares during the last quarter. Parallel Advisors LLC lifted its position in Paycom Software by 102.5% in the 1st quarter. Parallel Advisors LLC now owns 1,776 shares of the software maker's stock worth $216,000 after buying an additional 899 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Paycom Software by 9.1% in the first quarter. NewEdge Advisors LLC now owns 9,340 shares of the software maker's stock worth $1,135,000 after buying an additional 780 shares in the last quarter. Ramiah Investment Group boosted its stake in Paycom Software by 37.2% in the first quarter. Ramiah Investment Group now owns 2,909 shares of the software maker's stock worth $354,000 after buying an additional 789 shares in the last quarter. Finally, Summitry LLC bought a new position in Paycom Software during the first quarter valued at approximately $326,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PAYC shares. Zacks Research raised shares of Paycom Software from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. UBS Group reduced their target price on shares of Paycom Software from $210.00 to $183.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Barclays lifted their target price on shares of Paycom Software from $148.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. BTIG Research boosted their price target on shares of Paycom Software from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets upped their price target on shares of Paycom Software from $137.00 to $145.00 and gave the company a "market perform" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $159.75.

Paycom Software Trading Up 2.8%

PAYC opened at $168.60 on Tuesday. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $248.95. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day simple moving average of $139.71 and a two-hundred day simple moving average of $133.35. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.39 and a beta of 0.75.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $0.16. The firm had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $2.80 EPS. Analysts predict that Paycom Software, Inc. will post 9.37 EPS for the current year.

Paycom Software Profile

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

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