Ieq Capital LLC Has $335,000 Holdings in Paycom Software, Inc. $PAYC

Key Points

• Ieq Capital LLC reduced its stake in Paycom Software by 58.3% during the first quarter, now holding shares worth $335,000 after selling 2,150 shares.
• Multiple analyst upgrades have led to increased price targets for Paycom Software, with brokers setting new targets ranging from $230.00 to $290.00 and a consensus rating of "Hold."
• Paycom Software announced a $0.375 quarterly dividend with a yield of 0.7%, to be paid on September 8th, and reported a 10.5% year-over-year revenue increase with earnings surpassing estimates.

Ieq Capital LLC lessened its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,535 shares of the software maker's stock after selling 2,150 shares during the quarter. Ieq Capital LLC's holdings in Paycom Software were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Aristides Capital LLC bought a new stake in Paycom Software in the first quarter valued at approximately $282,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Paycom Software in the 1st quarter valued at $422,000. SVB Wealth LLC acquired a new stake in Paycom Software during the 1st quarter valued at $161,000. APG Asset Management N.V. boosted its position in Paycom Software by 3.6% during the first quarter. APG Asset Management N.V. now owns 28,500 shares of the software maker's stock worth $5,764,000 after purchasing an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Paycom Software by 10.8% during the first quarter. Smartleaf Asset Management LLC now owns 1,343 shares of the software maker's stock worth $294,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business'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 completion of the transaction, the insider directly owned 27,233 shares in the company, valued at $6,807,160.68. The trade was 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 available at this link. 10.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PAYC shares. KeyCorp increased their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Cantor Fitzgerald assumed coverage on shares of Paycom Software in a report on Thursday, August 14th. They set a "neutral" rating and a $230.00 target price for the company. Barclays boosted their price objective on Paycom Software from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $215.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets boosted their price objective on Paycom Software from $244.00 to $258.00 and gave the stock a "market perform" rating in a 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's stock. According to MarketBeat.com, Paycom Software currently has an average rating of "Hold" and an average target price of $234.36.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $2.04 during midday trading on Tuesday, reaching $222.26. The company's stock had a trading volume of 589,424 shares, compared to its average volume of 626,475. Paycom Software, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $267.76. The business's 50 day moving average price is $227.77 and its two-hundred day moving average price is $229.59. The company has a market cap of $12.86 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.46 and a beta of 0.81.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $472.00 million. During the same period in the previous year, the business earned $1.62 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. Sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, August 25th. Paycom Software's payout ratio is currently 20.30%.

About Paycom Software

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.