Corient Private Wealth LP Grows Holdings in Paycom Software, Inc. $PAYC

Key Points

• Corient Private Wealth increased its Paycom stake by 372.7% in the second quarter, owning 86,007 shares valued at approximately $10.8 million. Institutional investors collectively hold 87.77% of Paycom’s outstanding shares.
• Paycom exceeded quarterly expectations, reporting $2.78 earnings per share versus the $2.38 consensus and revenue of $531.2 million, up 9.8% year over year. The company also pays a quarterly dividend of $0.375, representing a 0.7% yield.
• Analyst sentiment remains mixed, with Paycom carrying an average rating of “Hold” and an average price target of $214.23, below its reported share price of $227.51. Recent target prices ranged from $200 to $244.

Corient Private Wealth LP increased its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 372.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 86,007 shares of the software maker's stock after purchasing an additional 67,811 shares during the period. Corient Private Wealth LP owned approximately 0.19% of Paycom Software worth $10,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. HighTower Advisors LLC lifted its stake in Paycom Software by 16.4% during the 2nd quarter. HighTower Advisors LLC now owns 5,960 shares of the software maker's stock worth $749,000 after acquiring an additional 839 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Paycom Software during the 2nd quarter worth approximately $4,411,000. AlphaGrep UK Ltd acquired a new stake in Paycom Software during the 2nd quarter worth approximately $266,000. Syon Capital LLC lifted its holdings in Paycom Software by 137.5% during the 2nd quarter. Syon Capital LLC now owns 7,117 shares of the software maker's stock worth $894,000 after buying an additional 4,120 shares in the last quarter. Finally, AXQ Capital LP lifted its holdings in Paycom Software by 4.1% during the 2nd quarter. AXQ Capital LP now owns 11,588 shares of the software maker's stock worth $1,456,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $227.51 on Thursday. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.26 and a beta of 0.78. The firm's fifty day simple moving average is $196.18 and its 200-day simple moving average is $153.30. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $244.98.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The firm had revenue of $531.20 million during the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $2.06 earnings per share. As a group, equities analysts forecast that Paycom Software, Inc. will post 10.65 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were 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 was Monday, August 24th. Paycom Software's dividend payout ratio (DPR) is presently 15.94%.

Analysts Set New Price Targets

PAYC has been the subject of several research reports. TD Cowen boosted their price target on shares of Paycom Software from $149.00 to $244.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Paycom Software from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Stifel Nicolaus lifted their target price on Paycom Software from $120.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Guggenheim boosted their target price on Paycom Software from $180.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Barclays upped their price target on Paycom Software from $154.00 to $210.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of "Hold" and an average price target of $214.23.

Insider Transactions at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following the completion of the transaction, the insider owned 70,152 shares in the company, valued at $16,668,115.20. This trade represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.20% of the company's stock.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based payroll and human capital management (HCM) software for businesses. Its platform is designed to help organizations manage employee data and payroll processes through a unified system, serving small, midsize and larger employers primarily in the United States.

The company's products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, employee learning, performance management, compensation planning, benefits administration, expense management and compliance tools.

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