Credit Agricole S A Trims Stock Position in Paycom Software, Inc. $PAYC

Key Points

• Credit Agricole S A has reduced its stake in Paycom Software, Inc. by 46.4%, selling 6,108 shares and retaining 7,055 shares, worth approximately $1.54 million.
• Paycom Software is set to pay a quarterly dividend of $0.375 per share to stockholders on record by August 25th, reflecting an annualized dividend yield of 0.6%.
• The company reported strong quarterly earnings, with an EPS of $2.06, exceeding estimates and a revenue of $483.6 million, marking a year-over-year growth of 10.5%.

Credit Agricole S A lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 46.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,055 shares of the software maker's stock after selling 6,108 shares during the quarter. Credit Agricole S A's holdings in Paycom Software were worth $1,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. von Borstel & Associates Inc. purchased a new position in Paycom Software in the 1st quarter worth $27,000. SouthState Corp purchased a new position in Paycom Software in the 1st quarter worth $27,000. Golden State Wealth Management LLC raised its position in 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 purchasing an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in 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 purchasing an additional 87 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in Paycom Software in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Paycom Software Stock Up 0.2%

Shares of NYSE PAYC traded up $0.56 during midday trading on Friday, hitting $226.27. The stock had a trading volume of 107,389 shares, compared to its average volume of 624,399. The business's 50 day moving average is $228.57 and its 200-day moving average is $228.71. The company has a market cap of $13.10 billion, a P/E ratio of 30.62, a PEG ratio of 2.49 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.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.28. The firm 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 business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. As a group, analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 25th. Paycom Software's payout ratio is presently 20.30%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PAYC shares. JPMorgan Chase & Co. raised their price target 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. BMO Capital Markets lifted their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Cantor Fitzgerald began coverage on shares of Paycom Software in a research note on Thursday, August 14th. They set a "neutral" rating and a $230.00 target price on the stock. Barclays lifted their target price on shares of Paycom Software from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $234.36.

Insider Activity

In other news, COO Randall Peck sold 890 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction 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. The trade was a 1.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bradley Scott Smith sold 1,500 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $249.96, for a total transaction of $374,940.00. Following the sale, the insider directly owned 27,233 shares of the company's stock, valued at approximately $6,807,160.68. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,590 shares of company stock valued at $6,761,837 over the last three months. Insiders own 10.90% of the company's stock.

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.