Federation des caisses Desjardins du Quebec Acquires 19,395 Shares of Paycom Software, Inc. $PAYC

Key Points

• Federation des caisses Desjardins du Quebec significantly increased its stake in Paycom Software by 4,448.4% during the 1st quarter, owning 19,831 shares valued at approximately $4.33 million.
• Paycom Software reported better-than-expected quarterly earnings with a net margin of 21.22% and revenue growth of 10.5% year-over-year.
• The company announced a quarterly dividend of $0.375, with an annualized dividend yield of 0.7%, set to be paid on September 8th.

Federation des caisses Desjardins du Quebec raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4,448.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,831 shares of the software maker's stock after buying an additional 19,395 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Paycom Software were worth $4,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. von Borstel & Associates Inc. acquired a new position in shares of Paycom Software during the first quarter valued at about $27,000. SouthState Corp bought a new position in Paycom Software during the first quarter valued at about $27,000. Golden State Wealth Management LLC raised its holdings 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 valued at $30,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings 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 valued at $33,000 after acquiring an additional 87 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Paycom Software during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Activity

In other news, insider Bradley Scott Smith sold 1,500 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 27,233 shares in the company, valued at approximately $6,807,160.68. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PAYC shares. BMO Capital Markets upped their target price on Paycom Software from $244.00 to $258.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. KeyCorp boosted their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Barclays raised their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Cantor Fitzgerald initiated coverage on shares of Paycom Software in a research note on Thursday, August 14th. They issued a "neutral" rating and a $230.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $234.36.

Paycom Software Price Performance

Shares of PAYC traded down $0.50 during trading hours on Friday, hitting $224.00. The stock had a trading volume of 445,838 shares, compared to its average volume of 607,443. The company's fifty day moving average is $227.92 and its two-hundred day moving average is $229.51. Paycom Software, Inc. has a 52 week low of $153.08 and a 52 week high of $267.76. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.46 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 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the firm earned $1.62 EPS. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business 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 dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 25th. Paycom Software's dividend payout ratio is presently 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.