Greenwich Wealth Management LLC Acquires New Position in Paycom Software, Inc. $PAYC

Key Points

• Greenwich Wealth Management acquired 40,723 Paycom shares worth approximately $5.1 million, while institutional investors collectively owned 87.77% of the company at the end of the quarter.
• Analysts raised their price targets, but sentiment remains mixed: Paycom has a consensus “Hold” rating and an average target of $213.93.
• Paycom exceeded quarterly expectations with $2.78 in EPS and $531.2 million in revenue, up 9.8% year over year; it also pays a quarterly dividend of $0.375 per share, yielding about 0.7%.

Greenwich Wealth Management LLC acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,723 shares of the software maker's stock, valued at approximately $5,118,000. Greenwich Wealth Management LLC owned 0.09% of Paycom Software at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its position in shares of Paycom Software by 59.6% during the 2nd quarter. QRG Capital Management Inc. now owns 3,935 shares of the software maker's stock valued at $495,000 after acquiring an additional 1,469 shares in the last quarter. Tidal Investments LLC boosted its holdings in Paycom Software by 187.6% during the second quarter. Tidal Investments LLC now owns 14,543 shares of the software maker's stock valued at $1,828,000 after purchasing an additional 9,487 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Paycom Software by 1.1% during the second quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker's stock valued at $589,000 after purchasing an additional 49 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Paycom Software by 311.7% in the 2nd quarter. WINTON GROUP Ltd now owns 46,197 shares of the software maker's stock valued at $5,806,000 after purchasing an additional 34,976 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in shares of Paycom Software by 52.4% in the 2nd quarter. Engineers Gate Manager LP now owns 80,419 shares of the software maker's stock worth $10,107,000 after buying an additional 27,644 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Shane Hadlock sold 2,577 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $237.60, for a total value of $612,295.20. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

PAYC has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Paycom Software from $120.00 to $200.00 and gave the company a "hold" rating in a research note on Thursday, August 6th. Guggenheim increased their price objective on Paycom Software from $180.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Citigroup boosted their target price on shares of Paycom Software from $136.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Barclays increased their target price on shares of Paycom Software from $154.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets upped their price objective on shares of Paycom Software from $145.00 to $208.00 and gave the stock a "market perform" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and an average price target of $213.93.

Paycom Software Price Performance

Shares of PAYC stock traded down $4.42 during trading hours on Tuesday, reaching $216.16. 324,670 shares of the company were exchanged, compared to its average volume of 1,234,877. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $244.98. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. The stock's fifty day moving average is $208.67 and its two-hundred day moving average is $158.38. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.23 and a beta of 0.78.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its quarterly earnings data 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. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million during the quarter, compared to analysts' expectations of $513.12 million. During the same quarter in the previous year, the company posted $2.06 EPS. Paycom Software's revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Paycom Software, Inc. will post 10.64 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a dividend of $0.3750 per share. The ex-dividend date was Monday, August 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.7%. Paycom Software's payout ratio is presently 15.94%.

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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